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Shares of the fuel cell system provider surged 49.03% to $8.48 Tuesday on extremely heavy volume of 137.02 million shares. Sending the stock soaring was a MarketWatch piece noting the company's chief executive officer disclosed he was set to announce a major deal in the next few weeks.
"We signed an additional order in North American with a global automaker," MarketWatch reported PLUG CEO Andy Marsh said in a telephone interview Tuesday.
Tuesday's gains, however, were short-lived.
Wednesday morning, PLUG stock swooned 20.43%, or 1.74 points, to $6.74 after Marsh said comments about a "major order" were misconstrued and that the deal had already been discussed in March.