Why Shares of Plug Power Skyrocketed 95% in June

Why Shares of Plug Power Skyrocketed 95% in June

After rising a nominal 0.6% in May, shares of Plug Power (NASDAQ: PLUG) were supercharged in June, racing 90.5% higher according to data from S&P Global Market Intelligence. Whereas it had originally targeted revenue of $1 billion and adjusted EBITDA of $200 million for 2024, the addition of United Hydrogen Group and Giner ELX led management to upwardly revise its those forecasts to $1.2 billion and $250 million, respectively.