Plug Power stock rose 5% as the company plans to expand into Europe

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Plug Power (PLUG.US) - US hydrogen cell company, gains over 5% during today's Wall Street session. The company announced that it would expand operations on the European continent by opening an office in Germany. The facility with an initial area of 70,000-square foot is to become a center of innovation. Initially, it will employ 30 specialists, but by mid-2022 the number of employees will increase to nearly 60. The company has been present in Europe for over 10 years, during this time it has cooperated with numerous clients from the Old Continent - for example a joint venture with Renault called HYVIA.

Plug Power's share price (PLUG.US) is still very low compared to the January highs. Despite today's upward move, the price is still trading below the 50 and 100 SMA’s and remains below the short-term downward trendline. A break above these levels could be the first optimistic signal, as the sentiment is still negative at the moment. Source: xStation5

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