Why Plug Power Stock Skyrocketed This Week
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Plug Power's stock surged 44.1% this week, driven by the Federal Reserve's interest rate cut of 0.25%. This move is expected to allow the company to restructure its debt and lower interest payments, benefiting speculative stocks like Plug Power. The stock has risen 91% over the past three months, despite uncertainties regarding profitability. While the company reported 21% year-over-year revenue growth last quarter, its sales performance remains inconsistent, making it a risky investment even in a favorable interest rate environment.
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