Plug Power Inc (NASDAQ: PLUG)
Plug Power is having an exceptional start to the day in the pre-market hours this morning, and for good reason. The company has signed an agreement with one of the largest companies in the world, Amazon! As a result, investor excitement ensued, leading to massive gains and prompting our partners at Trade Ideas to alert us of the trend. At the moment (9:19), PLUG is trading at $2.34 per share after a gain of $1.04 per share or 80.00% thus far today.
PLUG Signs Agreement With AMZN
As mentioned above, Plug Power is having an overwhelmingly strong time in the market at the moment after signing an agreement with Amazon. Under the agreement, PLUG will assist in AMZN fulfillment operations. The agreement is expected to generate $70 million in the year 2017 alone. That’s massive considering that PLUG only had a market cap of around $250 million before the deal.
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What We’ll Be Watching For Ahead
Moving forward, the CNA Finance team will be keeping a close eye on PLUG. In particular, we’re interested in learning more about the agreement with Amazon and watching as the agreement turns into revenue for the company. Nonetheless, we’ll continue to follow the story closely and bring the news to you as it breaks!
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