Is Plug Power (NASDAQ:PLUG) getting the mojo back? This is the question that investors are asking now since the company, on May 28, hit its highest of the month. Since April 2020, the company, for the first time, broke its spell of trading at $30 per share. In the meantime, PLUG investors are keeping their fingers crossed. The reason for this momentum is factors that have played in the near-term, apart from the recent performance of this stock.
The investors, who have been incurring heavy losses on PLUG, are wondering if this momentum can continue and turn into a permanent thing. The reasons for investors holding hydrogen fuel cell stocks in the portfolio are exciting. From the political perspective, President Joe Biden seems inclined favorably towards this sector in particular. The U.S. government’s infrastructure plans are eyeing clean energy in the future, including hydrogen.
There has been a rising demand for renewable and clean energy sources, which will help consumers wean off pollution-causing coal.