Hydrogen stocks are down across the board today following the announcement that Senator Joe Manchin was against funding federal climate and energy programs. The Senate is evenly divided between Democrats and Republicans, so Manchin holds a pivotal vote. His disapproval comes after months of negotiation with Senate Majority Leader Chuck Schumer. He cited increased federal spending as a driver of inflation.
Democrats were seeking to pass the climate and energy programs package before the midterm elections. Now, it appears those hopes have been erased, which has caused hydrogen stocks to decline.
Still, many hydrogen companies are backed by large, reputable institutional investors. Let’s get into the details.
5 Big Investors Betting on Hydrogen Stocks
Plug Power (NASDAQ:PLUG): BlackRock (NYSE:BLK), the world’s largest asset management firm, is also the largest shareholder…