Plug Power’s Wild Hydrogen-Fueled Stock Surge: 170% Rally, CEO Shake-Up, and What’s Next for PLUG?
Plug Power shares surged over 170% in three months, hitting a 52-week high above $4 by mid-October, then dropped back to the low-$3 range as of October 22, 2025. The rally followed bullish analyst calls and major hydrogen project milestones. Plug raised $370 million in new cash but remains unprofitable, with net margin near –293% last quarter. CEO Andy Marsh will step down in 2026, succeeded by José Luis Crespo.