---
title: "1 Reason I'm Still Keeping an Eye on Plug Power Stock, Despite Recent Lows"
description: "Plug Power's stock has seen a significant decline of 94% over the past three years, including a 27% drop this year. However, the stock has recently rebounded from its all-time low, driven by a growth "
type: "news"
locale: "en"
url: "https://longbridge.com/en/news/254280926.md"
published_at: "2025-08-23T14:19:48.000Z"
---

# 1 Reason I'm Still Keeping an Eye on Plug Power Stock, Despite Recent Lows

> Plug Power's stock has seen a significant decline of 94% over the past three years, including a 27% drop this year. However, the stock has recently rebounded from its all-time low, driven by a growth in revenue and reduced capital spending. The company's focus on hydrogen fuel cells and electrolyzers has led to a 21% increase in Q2 revenue, with electrolyzer sales tripling. As data center demand grows, Plug Power could benefit from partnerships with tech companies, potentially reversing its fortunes in the energy market.

**Plug Power** (PLUG 8.77%) stock hasn't been a winning investment. Shares of the hydrogen-based energy company plummeted 94% over the last three years, including a 27% decline year to date.

Yet some investors are still betting on a turnaround, and the stock has rebounded over the last several months from an all-time low price. The reason for that recent bounce is also why I am still keeping an eye on Plug Power.

Image source: Getty Images.

## A solution for data centers

Plug Power made an ambitious push into utilizing hydrogen as a fuel. Perhaps it's been too ambitious, as it poured money into building hydrogen production facilities and other hydrogen infrastructure. But it does now have a growth engine for the business with its fuel cells and electrolyzers.

The company has reduced its capital spending, with operating and investing cash usage down by 40% year over year in the second quarter. At the same time, Q2 revenue jumped by 21%. Orders for its fuel cells and electrolyzer platforms are the reason for that. Electrolyzer sales tripled year over year and represented 25% of total revenue in Q2.

There might be much more to come. Fuel cell peer **Bloom Energy** is showing investors how that path might look. Bloom recently announced a deal to deploy its fuel cell technology at some of tech giant **Oracle**'s cloud infrastructure data centers in the U.S. Data center growth is exploding, creating an increasing need for energy. Rather than taxing electrical grids, local fuel cells are one solution to that need.

Many data center owners also want to utilize renewable energy where possible. That's where Plug Power can become a big player. Investors need to watch for similar announcements of partnerships between Plug and large tech companies. If Plug Power can ink contracts to supply power to data centers, it could reverse its fortunes and become a winning investment moving forward.

### Related Stocks

- [PLUG.US - Plug Power](https://longbridge.com/en/quote/PLUG.US.md)

## Related News & Research

| Title | Description | URL |
|-------|-------------|-----|
| Plug Power wins shareholder approval to boost its share count, avoiding reverse split and paving the way for more dilution | Plug Power has received shareholder approval to increase its share count, avoiding a reverse stock split and enabling fu | [Link](https://longbridge.com/en/news/275891858.md) |
| Will Plug Power stock double in price to $4 per share in 2026? | Plug Power stock zoomed from $2 to $4 per share in 2025. | [Link](https://longbridge.com/en/news/275592375.md) |
| Plug Power Stock Edges Higher As Shareholders Approve Share Increase, Avoid Reverse Split | Plug Power Inc. shares rose 1.65% to $1.85 after shareholders approved an increase in the company's authorized share cou | [Link](https://longbridge.com/en/news/275917844.md) |
| Baader Bank Aktiengesellschaft Has $208,000 Holdings in Plug Power, Inc. $PLUG | Baader Bank Aktiengesellschaft reduced its stake in Plug Power, Inc. by 86.3% in Q3, now holding 89,477 shares valued at | [Link](https://longbridge.com/en/news/275971416.md) |
| 17:59 ETPLUG Investors with Losses in Excess of $100K Have Opportunity to Lead Plug Power Inc. Securities Fraud Lawsuit | Rosen Law Firm is reminding investors who purchased Plug Power Inc. (NASDAQ: PLUG) securities between January 17, 2025,  | [Link](https://longbridge.com/en/news/275988214.md) |

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> **Disclaimer**: This article is for reference only and does not constitute any investment advice.