Investor Optimism Boosts Jump of These 10 Stocks

3. Plug Power Inc. (NASDAQ:PLUG)

Plug Power’s shares jumped by 19.77 percent on Monday to finish the day at $3.15 apiece as investor sentiment was boosted by new tax credit rules for clean hydrogen production that are expected to benefit the company.

The tax credits, which were made available on Friday through the Inflation Reduction Act of 2022, said that the new rules underwent “significant changes and flexibilities that address several key issues to help grow the industry and move projects forward,” while adhering to the emissions requirements included in the act.

Officials explained that the changes “clarify how producers of hydrogen, including those using electricity from various sources, natural gas with carbon capture, renewable natural gas (RNG), and coal mine methane can determine eligibility for the credit.”

Plug Power is an American company engaged in the development of hydrogen fuel cell systems that replace conventional batteries in equipment and vehicles powered by electricity.