Shares of Plug Power are surging, and social media customers are weighing in on the inventory on fashionable websites together with Reddit, placing it among the many ranks of different typically mentioned and speculative buying and selling names like Tesla and Virgin Galactic.
On Wednesday, absent any information corresponding to quarterly earnings outcomes that would conceivably drive the inventory larger, shares of Plug Energy rose 17.9%, after gaining 9.7% on Tuesday. Within the final 6 months the inventory has jumped 156%. Within the final yr, shares are up 238%.
Fintech firm SoFi stated Wednesday that the inventory was on monitor for its most-transacted day in historical past, constructing on Tuesday’s exercise which was near the inventory’s most transacted day.
It was additionally among the many prime 10 trending tickers on the CNBC app together with Tesla and Virgin Galactic.
“I cashed on SPCE, obtained out somewhat early however had enormous positive aspects. And I am within the haul for PLUG,” Reddit consumer kashflowz stated, whereas Heydanu wrote “Bought of 50% SPCE for an enormous win. Purchased lots of PLUG.” Person Letsdothisfish merely stated “PLUG TO THE MOON.”
Constancy instructed CNBC that Plug Energy was the 23rd most purchased inventory amongst retail traders throughout early buying and selling, with it finally turning into the 14th most purchased inventory as Wednesday’s buying and selling session progressed. That is notable given the corporate’s $1.48 billion market cap.
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