Plug Power Inc (NASDAQ: PLUG) is having an incredibly strong start to the trading session this morning, and for good reason. The company announced trade show news, exciting investors and sending the stock on a run for the top. Today, we’ll talk about:
- The trade show news;
- what we’re seeing from PLUG stock as a result; and
- what we’ll be watching for ahead.
PLUG Heads Up On Tradeshow News
As mentioned above, Plug Power is having a great start to the trading session this morning after the comapny announced tradeshow news. The news came by way of press release in the pre-market hours.
In the release, the company said that it has opened its booth at the ProMat 2019 tradeshow. The event takes place today through April 11 at McCormick Place in Chicago.
At the booth, interested visitors will get hands-on experience with the wide array of logistics solutions provided by PLUG. The company will be showcasing the GenDrive fuel cell system, GenFuel hydrogen fueling stations, and ProGen fuel cell engine.
This is great news for the company as ProMat is currently the largest expo for manufacturing and supply chain professionals. The event features more than 1,000 exibitors demonstrating their material handling, manufacturing and logistics equipment and technologies. The conference also features more than 130 sessions and provides a compelling networking opportunity with access to leading industry professionals.
In a statement, Andy March, CEO at PLUG, had the following to offer:
Plug Power’s GenDrive technology is revolutionizing the way manufacturers and logistics companies move, and we’re thrilled to be back at ProMat.
We make solutions that work, sustainably and economically, for some of the largest material handling customers in North America and around the world. We look forward to meeting ProMat’s attendees and discussing our solutions to improve productivity and operational efficiency further at Booth N6742.
What We’re Seeing From The Stock
One of the first lessons that we learn when we start to dig into the market is that the news leads to moves. When it comes to Plug Power, the news proved to be overwhelmingly positive.
With this news, the company is now taking part in the biggest expo of its kind. This will open the door to potential partnerships and key networking opportunities, while showcasing products to large potential customers.
Considering this, it’s not surprising to see that excited investors are sending the stock on a run for the top. As is just about always the case, our partners at Trade Ideas were the first to alert us to the gains. Currently (10:55), PLUG is trading at $2.80 per share after a gain of $0.16 per share or 6.27% thus far today.
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What We’ll Be Watching For Ahead
Moving forward, the CNA Finance team will continue to keep a close eye on PLUG. In particular, we’re interested in following the story surrounding the company’s continued work to expand its offering, create relationships through the industry, and build value for investors. Nonetheless, we’ll keep a close eye on the news and bring it to you as it breaks!
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