From Nasdaq:

Plug Power’s stock (NASDAQ: PLUG) soared 15% on Thursday as the hydrogen stock gained momentum, jumping an impressive 50% in just five days. After starting production at its new hydrogen plant in Georgia, Plug Power recently completed the first fill of a cryogenic trailer with liquid hydrogen, a critical milestone for the green hydrogen economy.

The Georgia plant is Plug Power’s largest green hydrogen plant, with the capacity to produce 15 tons of liquid electrolytic hydrogen per day. It operates eight 5 MW electrolyzers, and its first fill will supply enough hydrogen to fuel over 3,200 forklifts a day. CEO Andy Marsh expressed optimism about the company’s future despite its current dire financial state.

Though Plug Power expects to secure some of its hydrogen supply in-house after the Georgia plant’s start, its biggest challenge is cash. A recent increase in stock price and a potential loan from the Department of Energy could help, but the company isn’t out of the woods yet. It’s essential to see lower costs and better fuel margins before investing in the stock.

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Though Plug Power’s CEO expressed confidence in turning the company around and a major analyst upgrade, it’s too early to bet on the stock. Despite the start of the Georgia plant and a potential loan, it’s essential to see lower costs and better fuel margins before investing in Plug Power. The Stock Advisor service has outperformed the S&P 500 since 2002 with its carefully selected stock picks.



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