Anushka Mukherji
4 min read
In This Article:
Plug Power (PLUG) has spent the last few years under heavy selling pressure as mounting losses continue to overshadow its steady revenue growth. While the hydrogen fuel cell leader has made real progress in high-potential segments like electrolyzers, the path to profitability still feels frustratingly out of reach. However, PLUG stock has shown signs of life lately. After a brutal start to 2025, shares have staged a notable double-digit rebound over the past month, signaling a spark of renewed investor confidence.
The bounce comes as the company rolls out a series of encouraging updates, breathing life back into a stock that had been stuck in the red. Among the most attention-grabbing moves is Plug’s latest deal with Allied Green Ammonia, an ambitious agreement to supply 2 gigawatts of electrolyzer capacity for a large-scale project in Uzbekistan.
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Plug Power has a history of landing eye-catching deals, including those with heavyweights like Walmart (WMT) and Amazon (AMZN). But so far, those partnerships haven’t done much to move the profitability needle — and there’s a fair chance this latest one won’t either. So, with fresh momentum in the air, is Plug Power finally worth a buy? Or is it still best approached with caution as we head into July?
New York-based Plug Power is positioning itself at the center of the emerging hydrogen economy with a broad ecosystem that touches everything from production and storage to distribution and power generation. As an early mover, the company offers a wide range of hydrogen solutions, including electrolyzers, fuel cells, storage tanks, and fueling infrastructure, serving industries from logistics to energy production all in pursuit of large-scale decarbonization.
Plug's reach is global, with electrolyzer deployments spanning five continents and a growing footprint in hydrogen production. To date, Plug has rolled out more than 72,000 fuel cell systems and 275 fueling stations, making it one of the largest consumers of liquid hydrogen. The company’s market capitalization currently stands at approximately $1.3 billion.
