Futures are mixed this morning after yesterday’s rally. The Dow ended yesterday’s session up 465 points or 1.7% while the S&P and Nasdaq rose 1.8% and 2.3% respectively. Investors seem to remain optimistic that Capitol Hill can come through with an additional coronavirus stimulus package.
Congratulations to those of you who acted on our trade from Friday. URI stock is up more than 14% since Friday morning.
Today we are revisiting a company we highlighted in our “Hot Stocks Under $10” watchlist. Since we dispatched the watchlist back in July, the stock price has grown more than 180%. This stock has been on fire and seems to be gaining steam.
Kudos to our readers who invested in Plug Power Inc, (PLUG) back in July in the low $5 range. The stock is now trading at $15.74 and it could be getting ready to take off.
Plug Power designs and manufactures hydrogen fuel cell systems that replace conventional batteries in equipment and vehicles powered by electricity.
“Hydrogen is expected to be one of the fastest growing segments of the energy industry representing as much as 18% of the energy mix by 2050. Today, Plug Power is the largest user of liquid hydrogen and has built more hydrogen refueling stations than anyone else in the world,” Plug noted in a letter to shareholders.
Plug Power is currently moving forward with expansion beyond its core capacity. The company will soon compete in the large-scale backup power market. Plug management expects its new GenSure HP (high power) platform, which is currently in production, to reach customers in 2021.
Plug Power recently announced that it is collaborating with “other transportation, gas and utility industry executives” to promote a new study from consulting firm McKinsley called the Road Map to US Hydrogen Economy. In the upcoming report McKinsley will explain how “hydrogen demand in the US could reach 17 million metric tons by 2050, roughly equivalent to 14% of energy demand” — and PLUG is situated at the beating heart of this hydrogen economy as a premier producer of hydrogen for energy use.
