What's Going On With Plug Power Stock Wednesday?

Shares of Plug Power Inc (NASDAQ:PLUG) are trading higher Wednesday morning, attempting to reverse a sharp decline that saw the stock fall over 20% last week.

• PLUG stock is moving in positive territory. Follow the breaking news here.

What To Know: The recent downturn was triggered by the company’s announcement of a warrant inducement agreement to raise $370 million. The deal, priced at $2.00 per share, sparked significant investor concern over shareholder dilution and overshadowed several positive operational developments.

With the stock finding a potential floor, investors may be shifting focus back to the company's long-term growth prospects. Recent positive catalysts include a strategic partnership with Edgewood Renewables to construct a new renewable fuels plant in Nevada and the successful first delivery of hydrogen to Germany’s H2CAST project.

Wednesday’s price action suggests some investors are looking past the immediate impact of the capital raise and focusing on the company's strategic expansion in both the U.S. and Europe.

Benzinga Edge Rankings: According to Benzinga Edge Rankings, the stock shows exceptionally strong price momentum with a score of 93.87.

PLUG Price Action: Plug Power shares were up 2.51% at $2.86 at the time of publication on Wednesday, according to Benzinga Pro data.

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How To Buy PLUG Stock

Besides going to a brokerage platform to purchase a share – or fractional share – of stock, you can also gain access to shares either by buying an exchange traded fund (ETF) that holds the stock itself, or by allocating yourself to a strategy in your 401(k) that would seek to acquire shares in a mutual fund or other instrument.

For example, in Plug Power’s case, it is in the Industrials sector. An ETF will likely hold shares in many liquid and large companies that help track that sector, allowing an investor to gain exposure to the trends within that segment.

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