Stock Track | Plug Power Soars 5.21% on NASA Contract and Financial Restructuring

Stock Track12-04

Plug Power Inc. (NASDAQ: PLUG) saw its stock soar 5.21% intraday on Wednesday, reflecting strong investor confidence in the company's recent strategic developments.

The surge follows the announcement of Plug Power's first-ever contract with NASA, valued at $2.8 million, to supply liquid hydrogen to key research facilities. Additionally, the company's recent $431.25 million convertible note offering, which retired high-cost debt, is expected to save $20 million annually in interest expenses. These moves have bolstered the company's financial outlook and operational credibility.

Investors are also closely watching the company's progress toward its goal of achieving positive EBITDA by late 2026, despite ongoing challenges such as potential dilution risks from an upcoming shareholder vote.

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