Shares of Plug Power are surging, with social media users taking to sites like Reddit to discuss the stock's price action.
On Wednesday, absent any news such as quarterly earnings results that could conceivably drive the stock higher, shares of Plug Power rose more than 7%, after gaining 9.7% on Tuesday. In the last 6 months the stock has jumped 129%; in the last year 203%."I cashed on SPCE, got out a little early but had huge gains. And I'm in the haul for PLUG," Reddit user kashflowz said, while Heydanu wrote "Sold of 50% SPCE for a big win. Bought a lot of PLUG.
To be sure, the recent surge is showing signs it may be detached from reality. With this week's gains, the stock is now well above the $4.86 average 12-month forecast for analysts, according to FactSet.
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