Oct. 08, 2025 4:46 AM ETPlug Power Inc. (PLUG) StockBLDP, BE, BLDP:CA, PLUGHenrik AlexInvesting GroupSummaryIn recent weeks, shares of hydrogen and PEM fuel cell solutions provider Plug Power have rallied by almost 150% on massive volume.Speculative investors and momentum traders have started to chase the shares, following the AI data center-driven rally in Bloom Energy's stock.Unfortunately, the hype appears to be largely unwarranted, as Plug Power's PEM fuel cells require expensive hydrogen, thus making them unsuitable for providing primary power at scale.While Plug Power's business is not likely to benefit from the AI data center boom, the persistent hype could help the company raise a decent amount of much-needed capital.Given the persistent lack of a viable business model, investors should consider selling the unwarranted hype. Consequently, I am reiterating my "Sell" rating on Plug Power's common shares.Looking for a helping hand in the market? Members of Value Investor's Edge get exclusive ideas and guidance to navigate any climate. Learn More »audioundwerbung/iStock via Getty ImagesNote:I have covered Plug Power Inc., or “Plug Power” (NASDAQ:PLUG) previously, so investors should view this as an update to my earlier articles on the company.In recent weeks, shares of hydrogen and PEM fuelMore on my IG serviceMassively Outperform in Any MarketValue Investor's Edge provides the world's best energy, shipping, and offshore market research. Over the past decade, we have achieved an annualized return of almost 40% with a long-only model portfolio return of over 23x. We also offer income-focused picks for those who prefer lower-risk firms with steady dividend payouts. Our 10-year track record proves the ability of our analyst team to outperform across all market conditions.Join VIE now to access our latest top picks and model portfolios.Value Investor's EdgeThis article was written byHenrik Alex20.49K FollowersI am mostly a trader engaging in both long and short bets intraday and occasionally over the short- to medium term. My historical focus has been mostly on tech stocks but over the past couple of years I have also started broad coverage of the offshore drilling and supply industry as well as the shipping industry in general (tankers, containers, drybulk). In addition, I am having a close eye on the still nascent fuel cell industry.I am located in Germany and have worked quite some time as an auditor for PricewaterhouseCoopers before becoming a daytrader almost 20 years ago. During this time, I managed to successfully maneuver the burst of the dotcom bubble and the aftermath of the world trade center attacks as well as the subprime crisis.Despite not being a native speaker, I always try to deliver high quality research to followers and the entire Seeking Alpha community.Analyst’s Disclosure:I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.Comments