Plug Power (PLUG) Surged 22%, General Motors (GM), FedEx (FDX), Abercrombie (ANF) Also Risen

On Tuesday, Plug Power Inc. (PLUG) soared +22.33 percent to $66.02 on Wall Street after a deal with France’s Renault (up 1.7 percent in Paris). The two companies announced the signing of a Memorandum of Understanding (MoU) for the development by the end of the first half of 2021 of a 50/50 joint venture in France, with a goal of more than 30 percent of the market share of light hydrogen commercial vehicles in Europe. On Tuesday, when the Biden proposal could help the industry, and in Europe as well, the coronavirus crisis is expected to raise public interest for the energy transition, the issue of electric vehicles was a big hit.

General Motors Company (GM) increased by +6.24% to $47.82, while FedEx Corporation (FDX) increased by +1.52% to $249.04. After its return to the stock exchange in 2010, General Motors has finished at a record level. On Tuesday, its chief, Mary Barra, announced the formation of a new division, called BrightDrop, to sell electric utility vehicles. The parcel transport company, FedEx which will receive the first 500 units of the EV600 pickup truck by the end of the year, will be its first client. Deliveries to other consumers will begin in early 2022, Mary Barra said, speaking at the Consumer Electronics Show (CES), which is being held this year due to the Covid-19 pandemic via videoconference.

Abercrombie & Fitch Co. (ANF) improved +0.95% to $23.26 in the Tuesday trading. With the success of online purchases, the apparel company predicts a less substantial fall in turnover than anticipated in the fourth quarter.

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