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TheStreet Open House

Why Plug Power (PLUG) Continues To Rally Today

Stock quotes in this article: PLUG, FCEL, BLDP

NEW YORK (TheStreet) -- Plug Power (PLUG) was gaining 10.5% to $9.14 Monday, continuing its rally as demand for hydrogen fuel cells grows.

The hydrogen fuel cell provider's rally follows a week where the stock gained 77%. Plug Power's stock increased nearly six-fold in the past 12 months.

The company recently won a contract from Wal-Mart WMT to provide its batteries for the retail giant's warehouses. The company also recently announced a $22.4 million share offering.

Plug Power's success is also contributing to the recent success f competitors FuelCell (FCEL) and Ballard Power Systems (BLDP).

Must read: Warren Buffett's 10 Favorite Stocks

STOCKS TO BUY: TheStreet Quant Ratings has identified a handful of stocks that can potentially TRIPLE in the next 12 months. Learn more.

PLUG ChartPLUG data by YCharts

STOCKS TO BUY: TheStreet Quant Ratings has identified a handful of stocks that can potentially TRIPLE in the next 12 months. Learn more.

Editor's Note: Any reference to TheStreet Ratings and its underlying recommendation does not reflect the opinion of TheStreet, Inc. or any of its contributors including Jim Cramer or Stephanie Link.

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