Plug Power (PLUG) shares at one point more than doubled in preopen trading on Wednesday after it said that Amazon (AMZN) acquired the right to buy up to 23% of hydrogen fuel cell maker and said it would use the technology to speed up work in its warehouses.
Also, Plug said it would work with Amazon to develop new fuel cell technology.
Plug said it granted Amazon warrants to buy up to 55.3 million of its common shares at $1.1893 per share. That exercise price is based on the volume weighted average closing price of Plug shares for the previous 30 days.
Plus shares traded recently at $2.23, up 93 cents, or 71.54%.