Why Plug Power Stock Popped 10% Tuesday Morning

Plug Power (NASDAQ: PLUG) stock rocketed more than 10% in early trading Tuesday, hitting $3 per share before giving back most of its gains and retreating to a single-digit gain. As of 10:20 a.m. ET, Plug stock is still up, but only by 2%.So why did Plug Power go up in the first place, and why did it give up its gains so quickly?In a note out this morning, investment bank Morgan Stanley predicted Plug Power will receive Department of Energy approval for a $1.7 billion loan by the end of this week, as StreetInsider.com just reported. As the analyst explained, the Biden administration is likely to approve this loan ahead of President Trump's inauguration to "reduce the risk of potential claw-back of this loan."Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool