Third, several analysts upgraded their price targets on Plug Power stock today based on its robust backlog and the growth potential under the Inflation Reduction Act, among other things. Now what By now, it is evident what happened with Plug Power stock today -- investors paid little heed to its numbers and bet big on the Inflation Reduction Act, which includes spending $369 billion on climate change initiatives. What happened Plug Power's (NASDAQ: PLUG) stock shot through the roof this morning, surging a whopping 18.7% at its highest point.