Why Plug Power Stock Surged on Thursday

By Neha Chamaria – Dec 18, 2025 at 2:58PM ESTKey PointsFuelCell Energy expects demand for hydrogen fuel cells to surge amid the data center boom. Plug Power should benefit too -- or at least investors expect it to.These 10 Stocks Could Mint the Next Wave of Millionaires ›NASDAQ: PLUGPlug PowerMarket Cap$3.0BToday's Changeangle-down(5.82%) $0.13Current Price$2.29Price as of December 18, 2025 at 3:15 PM ETPlug Power stock has fallen over 40% since mid-October. Could new opportunities help it revive?Shares of Plug Power (PLUG +5.82%) sizzled on Thursday, soaring 15% at its highest point in trading through 1:30 p.m. ET. Three big catalysts propelled the hydrogen stock higher. High hopes from Plug Power Plug Power announced that it has successfully installed a 5 megawatt GenEco electrolyzer at Africa's first fully integrated commercial green hydrogen plant in Namibia. The project serves as a testament to the potential for green hydrogen to serve the needs of nations as they decarbonize. Rival FuelCell Energy's (FCEL +23.29%) Thursday results validate fuel-cell potential, and that brings us to the second catalyst that drove Plug Power shares higher. FuelCell Energy delivered a strong set of numbers for its fourth quarter and full year, ending fiscal 2025 with a 41% rise in revenue and a backlog of $1.2 billion. ExpandNASDAQ: PLUGPlug PowerToday's Change(5.82%) $0.13Current Price$2.29Key Data PointsMarket Cap$3.0BDay's Range$2.25 - $2.4952wk Range$0.69 - $4.58Volume105MAvg Vol136MGross Margin-7128.74% Notably, FuelCell Energy sees significant growth opportunities in data centers as they require massive amounts of power to keep their servers and cooling systems running continuously.

Since Plug Power also operates in the same core business of hydrogen fuel cells to generate clean energy, the emerging growth catalysts for FuelCell Energy should also be applicable to Plug Power. Meanwhile, the Trump Media & Technology Group's blockbuster merger with nuclear fusion company, TAE Technologies, announced on Dec. 18, sent shares of alternative energy stocks soaring. If the Trump administration is pushing for energy technologies like fusion so aggressively, investors expect that hydrogen infrastructure should also receive greater attention and support from the government going forward.Advertisement Is Plug Power stock a buy before 2026? Plug Power was among the first companies to bring green hydrogen technology to the market, but profitability has remained elusive for the company. To make matters worse, Plug Power also recently suspended its ambitious plans to expand green hydrogen production after Trump paused a $1.66 billion loan guarantee given by the previous government. These are just a few of the factors to consider before you are lured into buying Plug Power stock.Read NextDec 16, 2025 •By Matt DiLalloCan Plug Power (PLUG) Stock Beat The Market?Dec 16, 2025 •By Leo SunWant $1 Million In Retirement? Invest $50,000 in These 2 Stocks and Wait a DecadeDec 16, 2025 •By Leo SunHow Buying Plug Power Stock Today Could 10x Your Net WorthDec 8, 2025 •By Neha ChamariaPlug Power Stock Slumped 25% in November.

Should You Buy It Now?Dec 1, 2025 •By Matt DiLalloWhat To Know Before Buying Plug Power StockNov 30, 2025 •By Ryan VanzoThis $3 Billion Company Is Trading Like a Penny StockAbout the AuthorNeha Chamaria is a contributing Motley Fool stock market analyst covering energy, industrials, utilities, and materials sectors, with a focus on dividend stocks. Prior to The Motley Fool, Neha worked on portfolio valuations for hedge funds at HSBC and authored articles as a journalist. She holds a master’s degree in finance from ICFAI and an MBA from Symbiosis University, along with certifications from the National Stock Exchange of India. Neha was honored with an all-India gold medal for her M.S. in Finance and was the first woman in her family to pursue a professional career.TMFNehamsX@nehamschamariaStocks MentionedPlug PowerNASDAQ: PLUG$2.29 (+0.06%) $+0.13FuelCell EnergyNASDAQ: FCEL$9.74 (+0.23%) $+1.84Trump Media & Technology GroupNASDAQ: DJT$14.96 (+0.43%) $+4.49*Average returns of all recommendations since inception. Cost basis and return based on previous market day close.Advertisement