Key Takeaways Plug Power shares surged for a second straight session on new tax credit rules for clean hydrogen production.Last week, the Treasury Department issued the final rules for the tax credits spelled out in the Inflation Reduction Act of 2022.

Plug Power (PLUG) surged 20% on Monday following President Biden’s rule changes on tax credit rules for clean hydrogen producers. Market Domination hosts Julie Hyman and Josh Lipton dive into the EV charging company's stock movements and the rise in short-interests suggesting a potential short squeeze.

The Biden administration finalized rules meant to boost domestic production of hydrogen fuel through a new tax credit, a move that might also keep struggling nuclear power plants on line for longer. The highly anticipated guidelines stipulate what kinds of hydrogen projects can qualify for the tax credit.

The US’ 45V hydrogen tax credit is among the most – if not the most – generous incentives for hydrogen production in the world, according to industry experts.