Plug Power surges on no news, heavy volumes

Plug Power is roaring higher in premarket trading on a dearth of news and elevated volumes.

The hydrogen fuel cell company’s stock is up nearly 7% as of 8:15 a.m. ET with about 4.3 million shares traded, putting it in the top 10 for volumes among all US equities.

(Since it’s such a nominally cheap stock, the actual amount of money that’s changed hands trading Plug Power this morning is outside the top 50.)

Over the past month, volumes traded for the entire session were running a little shy of 43 million. Trading one-tenth of that well before the market opens is certainly unusual. There have been four trades in excess of 75,000 shares already — for context, there has not been even a single trade at least that big during the premarket session since August 18, per data from Bloomberg.

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