Plug Power Inc (NASDAQ:PLUG) shares are surging Monday afternoon, building on recent momentum as investors connect the artificial intelligence boom to the growing need for alternative energy solutions.
The hydrogen fuel cell company gained favor in September as the market recognized the immense power requirements of data centers essential for AI development.
PLUG is among today’s top performers. Stay ahead of the curve here.
What To Know: Monday’s rally is also supported by the Federal Reserve’s recent interest rate cut, which lowers borrowing costs for capital-intensive companies like Plug. This easing of financial pressure, combined with the powerful new demand from the AI sector, is fueling strong investor optimism for the company’s future profitability.
The explosive growth of artificial intelligence has created an energy challenge. AI models require vast, uninterrupted power for computation and cooling within massive data centers, straining traditional power grids. This is where Plug Power could offer a solution.
The company’s hydrogen fuel cells could potentially serve as a scalable form of green power. This could allow data centers to expand without being limited by grid capacity, ensuring the constant uptime critical for AI operations while also meeting potentially stringent corporate sustainability goals.
PLUG Price Action: According to data from Benzinga Pro, Plug Power shares are trading higher by 20.2% to $2.62 on Monday at publication. The stock has a 52-week high of $3.02 and a 52-week low of 69 cents.
Benzinga Edge Rankings: Underscoring this positive movement, Benzinga Edge Rankings show the stock has a strong Momentum score of 76.93.
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How To Buy PLUG Stock
By now, you're likely curious about how to participate in the market for Plug Power — be it to purchase shares, or even attempt to bet against the company.
Buying shares is typically done through a brokerage account. You can find a list of possible trading platforms here. Many will allow you to buy “fractional shares,” which allows you to own portions of stock without buying an entire share.
If you're looking to bet against a company, the process is more complex. You'll need access to an options trading platform or a broker who will allow you to “go short” a share of stock by lending you the shares to sell. The process of shorting a stock can be found at this resource. Otherwise, if your broker allows you to trade options, you can either buy a put option, or sell a call option at a strike price above where shares are currently trading — either way, it allows you to profit from the share price decline.
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