NEW YORK, June 19, 2026, 10:04 EDT
- Plug Power ended up 7.55% at $2.85 on Thursday, the final session ahead of Nasdaq’s Juneteenth holiday.
- The stock rose around 3.3% from last Friday’s close. Still, it’s trading close to 38% under its 52-week high.
- The week will depend on whether investors stick with Plug for its cash and margins, instead of just following the wider fuel-cell trade.
Plug Power Inc. shares jumped 7.55% to finish at $2.85 on Thursday, bouncing back after two sessions of losses. That move topped the Nasdaq Composite, which added 1.91%. U.S. markets were closed Friday for Juneteenth, making Thursday the last trading day of the week.
Plug shares jumped despite no new earnings update out. That put more focus on trading flows, moves in similar stocks and how investors see Plug’s efforts to fix its balance sheet. The stock dropped Tuesday and Wednesday, then rebounded Thursday. It closed Monday at $2.80, Tuesday at $2.71, Wednesday at $2.65 and Thursday at $2.85.
Plug shares ended the last trading week up about 3.3%, climbing from $2.76 on June 12 to $2.85 on June 18. The gain follows losses—Plug dropped 2.47% last Friday, marking its eighth losing session in a row at that point.
Markets climbed Thursday with the S&P 500 up 1.1%, the Dow higher by 0.1%, and small caps jumping 2.1%. Treasury yields slipped. That’s per AP. U.S. markets will stay closed Friday. Regular trading picks up again after the long weekend.
Hydrogen and fuel-cell names moved up too. FuelCell Energy surged 19.96% to finish at $24.04. Ballard Power Systems added 5.05%. Those gains made Plug’s rally look less like an isolated move.
Plug’s core pitch to investors is unchanged. The company posted first-quarter revenue of $163.5 million, up 22% year over year, and said gross margin rose to negative 13%, an improvement from negative 55%.
Liquidity is the other piece. Plug said June 2 it finished selling a federal investment tax credit, bringing in about $39.2 million from the St. Gabriel, Louisiana hydrogen liquefaction plant. CEO Jose Luis Crespo said this would “enhance financial flexibility.” CFO Paul Middleton said it’s part of a “disciplined financial strategy.” Plug Power
Crespo told investors in May that Plug is still targeting positive EBITDAS in the fourth quarter of 2026. EBITDAS stands for earnings before interest, taxes, depreciation, amortization and stock-based compensation. The metric removes some financing, accounting and equity-pay items from profit.
But risk is still there. Plug reported a negative gross margin and a first-quarter GAAP loss of 18 cents per share. The stock is trading well below its $4.58 52-week high even after Thursday’s rally. If trading next week points to mostly short covering or just a sympathy bounce with other fuel-cell names, investors might shift back to questions about cash burn, dilution and how long it will take for hydrogen demand to turn into lasting profits.
