Plug Power (PLUG) Surges 9.9% on NASA Million-Dollar Deal

We precocious published 10 Stocks Stealing the Spotlight Early arsenic Christmas Looms. Plug Power Inc. (NASDAQ:PLUG) is 1 of the apical performers connected Tuesday.

Plug Power saw its stock prices leap by 9.90 percent connected Tuesday to decorativeness astatine $2.11 apiece arsenic capitalist sentiment was boosted by the commencement of its proviso of hydrogen substance to the National Aeronautics and Space Administration (NASA).

Plug Power Inc. (NASDAQ:PLUG) was 1 of the 2 companies tapped by NASA to proviso the bureau with astir 36,952,000 pounds of liquid hydrogen, with the different steadfast being Air Products and Chemicals, Inc.

Under NASA’s statement with Plug Power Inc. (NASDAQ:PLUG), the second would present astir 480,000 pounds of the commodity to NASA’s Glenn Research Center successful Cleveland, Ohio, and astatine the Neil A. Armstrong Test Facility successful Sandusky, Ohio, for a maximum declaration worth of astir $2.8 million.

Meanwhile, Air Products would proviso astir 36.5 cardinal pounds of liquid hydrogen to NASA’s Kennedy Space Center and Cape Canaveral Space Force Station successful Florida; the Marshall Space Flight Center successful Huntsville, Alabama; and the Stennis Space Center successful Bay St. Louis, Mississippi, for a maximum declaration worth of $144.4 million.

The contracts dwell of a two-year basal play followed by 3 one-year periods, which, if exercised, would widen the contracts to Nov. 30, 2030.

NASA said that the proviso is captious for the agency’s centers arsenic they usage liquid hydrogen, combined with liquid oxygen, arsenic substance successful cryogenic rocket engines, and the commodity’s unsocial properties enactment the improvement of aeronautics.

While we admit the imaginable of PLUG arsenic an investment, our condemnation lies successful the content that immoderate AI stocks clasp greater committedness for delivering higher returns and person constricted downside risk. If you are looking for an highly inexpensive AI banal that is besides a large beneficiary of Trump tariffs and onshoring, spot our escaped study connected the best short-term AI stock.

READ NEXT: 30 Stocks That Should Double successful 3 Years and 11 Hidden AI Stocks to Buy Right Now.

Disclosure: None. This nonfiction is primitively published at Insider Monkey.