Are investors in Plug Power (NASDAQ: PLUG) stock irrationally exuberant?
Yesterday, shares of the hydrogen fuel cell manufacturer surged to close 26% higher after announcing an expanded strategic collaboration with Australian partner Allied Green Ammonia, whereby the two companies will build a $5.5 billion green chemical production facility in Uzbekistan, and there produce electrolyzer to create hydrogen fuel. Today, Plug Power stock is up another 16% through 10:15 a.m. ET.
Are any other catalysts fueling Plug Power’s rise?