Why Plug Power Stock Skyrocketed 28.5% Today

Group 1 - Plug Power's shares increased by 28.5% following the Senate's latest version of the "Big, Beautiful Bill" which includes an extension of hydrogen industry tax credits through January 1, 2028 [1] - The Senate's changes have positively impacted hydrogen stocks, indicating a broader market interest in hydrogen as a clean energy source [1][2] - The extension of tax credits has garnered support from oil companies like ExxonMobil, who see hydrogen as a potential clean energy revenue stream [2] Group 2 - Plug Power is currently facing challenges, with stagnant and declining sales, except for a notable increase in the last quarter [4] - The company is operating at a loss and is burning cash, raising concerns about its financial stability [4] - While the tax credit extension could provide a lifeline, there are significant risks, including the potential for bankruptcy in the near future [5]