Shares of hydrogen fuel cell pioneer Plug Power (NASDAQ: PLUG) were off to the races this morning, and as of 12:30 p.m. EST, have already made a 12.5% gain. However, it's anybody's guess why these shares are surging -- or maybe "nobody's guess" is more accurate.
Over on StreetInsider.com , for example, where they make a living parsing the pops and drops of stocks, and explaining what (or who) caused them, Plug Power's stock price surge didn't go unnoticed -- a 12.5% bump is pretty hard to miss. But even StreetInsider is forced to conclude: "It is unclear the driver."
What I can tell you is what is not causing the surge. There's no stock-specific news out there on Plug Power today. No one has upgraded (or downgraded) Plug Power stock, nor even adjusted a price target.
Plug last reported quarterly earnings in November -- third-quarter earnings, released on Nov. 8, to be precise. Add three months to that date, and it could be that investors are buying Plug in anticipation of a strong fourth-quarter earnings report.
If that's the case, though, they may have to exercise some patience. Last year, Feb. 8 came and went without an earnings report from Plug. The company didn' t report its Q4 and full-year earnings until a month later, March 7.
That means there's probably plenty of time left for Plug to add to today's gains -- or lose them -- before earnings day rolls around.
10 stocks we like better than Plug Power
David and Tom just revealed what they believe are the 10 best stocks for investors to buy right now... and Plug Power wasn't one of them! That's right -- they think these 10 stocks are even better buys.
*Stock Advisor returns as of January 31, 2019