Stock Market Today, Nov. 9: Plug Power Rises 3.45% on Positioning Ahead of Q3 Report
Plug Power (NASDAQ:PLUG), a clean hydrogen and fuel cell systems provider, closed at $1.50, up 3.45%. Pre-market and during Monday's session, investors focused on Q3 results after the close and on margins and cash burn. The stock moved up as much as another 4% after results were
Plug Power closed at $1.50, marking a 3.45% increase. According to Nasdaq Markets and Motley Fool, investors focused on the company's third-quarter results, margins, and cash burn during the session. Motley Fool reports that trading volume reached 76.5 million shares, which is approximately 37% above the three-month average of 55.9 million shares.
The company reported 13% revenue growth to $201 million and a net cash usage of $28 million, which Motley Fool notes was the company's lowest-ever quarterly cash burn. While after-hours action was initially mixed, the stock jumped about 4% as of 5 p.m. ET.
In broader market activity, the S&P 500 closed at 7,550, up 2.35%, and the Nasdaq Composite closed at 25,253, up 2.74%. Among clean hydrogen and fuel cell systems peers, Bloom Energy closed at $193.88, up 11.91%, and Ballard Power Systems closed at $1.57, up 2.28%, according to Motley Fool.
Brief written by urgent.news from Nasdaq Markets, Motley Fool — 2 reports on this story. Machine-written — may contain errors; check the original before relying on it.
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