Is Plug Power Stock a Buy Right Now?
The hydrogen market is going to be huge -- but right now, it isn't growing very fast. In 2023, global hydrogen demand reached 97 million metric tons, and it grew to just 100 million metric tons in 2024. Due to changes in the global energy landscape, however, some estimates assert that demand will reach 600 million metric tons by 2050.
Companies like Plug Power (NASDAQ: PLUG) that make hydrogen energy systems are poised to benefit directly from this growth. But does that make the stock a buy today?
Plug Power is already benefiting from rising interest in hydrogen fuel systems. Over the past five years, its revenue has grown by 118%. Its stock price over that time period, however, has fallen by nearly 90%. Why the mismatch? Just take a look at Plug Power's financials.
Source Fool.com
