Plug Power (PLUG) Extends Run on 6th Day as Rate Cut Sparks Optimism

Group 1 - Plug Power Inc. (NASDAQ:PLUG) experienced a significant stock price increase, closing at $2 after a 19.05 percent jump, marking its sixth consecutive day of gains, driven by positive investor sentiment following the Federal Reserve's interest rate cut [1][2] - The Federal Reserve implemented a 25-basis point rate cut, which is beneficial for Plug Power as it relies heavily on debt and other fundraising methods to finance its expansion plans [2][3] - Plug Power has recently expanded its hydrogen supply agreement with a major US-based industrial gas company, enhancing its supply chain for liquid hydrogen [3] Group 2 - The company is rapidly expanding its hydrogen generation network, with operational plants in Georgia, Tennessee, and Louisiana, collectively producing 40 tons per day of liquid hydrogen, and additional plants are under development to support national infrastructure needs [4] - Plug Power plans to launch over 40 new sites in 2025 to support continued growth in the hydrogen industry, particularly looking towards 2026 and beyond [5]