Plug Power (PLUG)

Jan 12, 2021Trade Ideas

Plug Power (PLUG) is exploding to all time highs.

Over the last few weeks, the stock ran from a low of 15 to $62.26. And it could run even higher. All as demand for green hydrogen picks up momentum.

Better, Goldman Sachs is already calling green hydrogen a “once in a lifetime opportunity,” says Barron’s. The firm also notes the addressable market could be worth up to $11.7 trillion in the next 30 years with the U.S., Asia, and Europe leading the way.

Helping, French automaker Renault just signed a memorandum of understanding to launch a 50-50 venture with Plug Power in France by the end of 2021. They’ll target over 30% share of the fuel-cell powered light commercial vehicle market in Europe, says MarketWatch.

There are a few ways to trade the rally.

One is to buy the PLUG stock at market prices. The other is to buy to open the PLUG Feb. 19, 2021 65 calls at market. You can also hedge with the PLUG Feb. 19, 2021 60 put.

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