Investors in Plug Power (NASDAQ:PLUG) stock are certainly cheering the price action around this key hydrogen player today. Shares of PLUG stock have surged about 11% at the time of writing as investors brace for what could be a big upcoming catalyst on the horizon.
This coming Wednesday, June 14, is the date Plug Power has set for its Analyst Day. At this event, the company is expected to announce updates on its portfolio of turnkey hydrogen solutions at its state-of-the-art Gigafactory in Rochester, New York. This Analyst Day event will be a webcast, allowing investors who don’t want to make the trek to Rochester to be able to view the presentation.
Investors appear to be excited about the company’s expected announcements. Plug Power’s press release suggested it would present “exciting revenue growth opportunities in the Company’s Applications and Energy business units.” While vague, there appear to be more catalysts on the horizon for investors, driving enthusiasm today.
Let’s dive into what investors may want to make of this announcement and this news.
PLUG Stock Surges Ahead of Key Investor Day Event
For many companies in high-growth sectors, investor days really matter. Whether we’re talking about retail or institutional investors or even analysts, these presentations can help inform investors of what is on the radar and how to potentially price new growth opportunities into a given company’s stock price.
Plug Power is among the leaders in green hydrogen production, and many view this company as integral to solving some major issues in de-carbonizing more industrial applications. The company is a powerhouse in the forklift and heavy machinery businesses, and more is expected to be done in the company’s work on disrupting the long-haul freight business. More color on what Plug Power intends to do in these key segments will be welcomed by investors.
Now, an 11% move on a given day is certainly generous, and we’re still two trading sessions away from hearing what Plug Power has planned. Thus, perhaps this move may be a little over-exuberant. We’ll see.
But in the case of PLUG stock, more news is likely good news, at least for now. This will be a stock that investors may want to keep on their watchlist this week and see how it performs post-investors’ day.
On the date of publication, Chris MacDonald did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
