Shares of Plug Power are surging, and social media users are weighing in on the stock on popular sites including Reddit, putting it among the ranks of other often discussed and speculative trading names like Tesla and Virgin Galactic.
On Wednesday, absent any news such as quarterly earnings results that could conceivably drive the stock higher, shares of Plug Power rose VIDEO Squawk Box Fintech company SoFi said Wednesday that the stock was on track for its most-transacted day in history, building on Tuesday's activity which was close to the stock's most transacted day.
Bought a lot of PLUG.
In the options market, trader Jon Najarian said plugs internet earnings seen an upswing in call activity for the stock. Last month that average turnover when up to 17, per day," he said.
Plug Power (PLUG) Reports Q3 Loss, Tops Revenue Estimates
To be sure, the recent surge is showing signs it may be detached from reality. The company makes environmentally friendly hydrogen fuel cell systems that are manufactured to power things like machines in warehouse as well as cars.
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The company's customers include Amazon, Walmart and FedEx. Plug Power went public in October ofand its recent surge higher is reminiscent of its price action during the dotcom bubble.
- PLUG is scheduled to release third-quarter results on Nov 9, before market open.
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- Hydrogen fuels cells provide longer range than rechargeable batteries for electric vehicles.
- Passive income on the Internet investment investment
That marked a turning point, after which the stock began a sometimes steep, sometimes more decline. Shares bottomed at just 12 cents on February 25, A Securities and Exchange Commission representative declined to comment. Related Tags.