Plug Power Inc. (NASDAQ:PLUG) saw a 19.05% increase on Wednesday, marking a sixth consecutive day of gains. Investor optimism was boosted by the Federal Reserve’s interest rate cut, the first in nine months. The rate cut is favorable for PLUG, which heavily relies on debt for funding.

PLUG recently announced an expanded hydrogen supply agreement with a US industrial gas company. The company is rapidly expanding its hydrogen generation network, with facilities in Georgia, Tennessee, and Louisiana. PLUG plans to launch over 40 new sites by 2025 to support industry growth in 2026 and beyond.

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Read more at Yahoo Finance: Plug Power (PLUG) Extends Run on 6th Day as Rate Cut Sparks Optimism