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Benzinga
Benzinga
Business
Henry Khederian

Plug Power Stock Is Surging Wednesday: What's Going On?

PLUG Plug Power Hydrogen Benzinga Edge ETF
Stuttgart,,Germany,-,03-17-2024:,Mobile,Phone,With,Logo,Of,American

Plug Power Inc (NASDAQ:PLUG) shares are trading sharply higher Wednesday afternoon. The stock’s climb comes as the Global X Hydrogen ETF (NASDAQ:HYDR), of which Plug Power is a major holding, touched a new 52-week high.

What To Know: The rally in hydrogen stocks Wednesday afternoon is possibly being fueled by the Federal Reserve’s interest rate cut Wednesday, which tends to benefit growth-oriented companies.

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