10 Firms Close Shortened Trading Week Higher

5. Plug Power Inc. (NASDAQ:PLUG)

Shares of Plug Power (PLUG) ended Friday’s trading stronger, rising by 7.49 percent to finish at $2.87 apiece after its CEO Andy Marsh announced an optimistic outlook about the company’s long-awaited loan guarantee deal with the US Department of Energy (DOE).

In May last year, Plug Power (PLUG) secured a conditional commitment from the DOE for up to $1.66 billion in loan guarantee, an amount crucial for its commitment to building as many as six additional green hydrogen production facilities.

According to Marsh, there was a high probability that the company will close out the loan agreement before the entry of the Trump administration.

“We’re just really dotting the I’s and crossing the T’s on the legal documentation so that we can finalize it sometime in the next couple of weeks,” Marsh said in an interview. “At around 5.5 percent, the DOE loan will dramatically reduce the cost of capital, which makes the return on the investment much quicker.”