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Benzinga
Benzinga
Business
Henry Khederian

Plug Power Stock Pulls Back After Tax Credit Rally

PLUG Plug Power Plug Power Inc
Stuttgart,,Germany,-,03-17-2024:,Mobile,Phone,With,Logo,Of,American

Shares of Plug Power Inc (NASDAQ:PLUG) are experiencing a pullback on Tuesday, potentially fueled by investors taking profits following a marked rally on Monday. The surge was driven by reports that the U.S. Senate has extended a critical clean energy tax credit.

What To Know: Monday’s rally started after a revised Senate budget bill unexpectedly pushed the construction start deadline for the 45V clean hydrogen production tax credit by two years, to December 31, 2027.

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