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

Core Insights - Plug Power's stock has seen a significant decline of 94% over the past three years, with a 27% drop year to date, but recent months have shown a rebound from an all-time low price [1] - The company has shifted focus towards utilizing hydrogen as a fuel, which has led to a growth engine through its fuel cells and electrolyzers [3] Financial Performance - Plug Power has reduced its capital spending, with operating and investing cash usage down by 40% year over year in Q2 [4] - Q2 revenue increased by 21%, driven by a tripling of electrolyzer sales year over year, which accounted for 25% of total revenue in Q2 [4] Industry Trends - The demand for energy in data centers is rapidly increasing, and local fuel cells are emerging as a solution to alleviate pressure on electrical grids [5] - Partnerships with large tech companies for supplying power to data centers could significantly enhance Plug Power's market position and investment appeal [6]