Retail Believes Plug Power Has Most Upside Among Hydrogen Stocks In 2025 After New Tax Credit Rules
By Stocktwits Inc | First Published Jan 6, 2025, 10:33 PM ISTRetail investors on Stocktwits believe Plug Power has the most to gain from the new rules compared to peers Bloom Energy (BE), Nikola (NKLA), and FuelCell Energy (FCEL).
Plug Power Inc. (PLUG) stock surged nearly 20% in morning trade on Monday after the U.S. Department of the Treasury released the final rules on tax credits for clean hydrogen production under the Inflation Reduction Act (IRA).
Retail investors on Stocktwits believe Plug Power has the most to gain from the new rules compared to peers Bloom Energy (BE), Nikola (NKLA), and FuelCell Energy (FCEL).
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An overwhelming majority voted for Plug Power as the hydrogen stock with the best upside in 2025, with only 21% betting on Nikola and 16% voting for FuelCell Energy. Bloom Energy is retail’s least favorite pick on Stocktwits, with only 8% of the votes.
The Treasury's updated rules broaden eligibility for tax credits, allowing nuclear and natural gas producers to qualify for billions in incentives. These adjustments aim to reduce the historically high costs of producing clean hydrogen, a critical factor in expanding the sector.
On Stocktwits, retail sentiment around Plug Power surged to ‘extremely bullish’ from ‘neutral’ a day ago. Chatter also saw an uptick, jumping to ‘high’ from ‘low’ levels during the same period.
While many retail investors on the platform expected Plug Power’s stock to cross the $3 threshold on Monday, some are looking for more upside.
Long-term holders of the stock celebrated finally seeing the stock rise after it struggled last year.
Plug Power, which struggled in 2024 with a 53% stock decline, has faced financial challenges in meeting hydrogen supply contracts while scaling up production.
The company opened a hydrogen production plant in Georgia last year but continued to report losses.
A potential $1.6 billion loan commitment from the U.S. Department of Energy for clean hydrogen development, announced in May 2024, is expected to stabilize finances and support growth, according to industry watchers.
The company has also made progress with its green hydrogen operations, fulfilling initial customer orders for major retailers such as Amazon (AMZN), Walmart (WMT), and Home Depot (HD).
Despite these milestones, Plug Power has yet to fully meet its supply commitments.
The tax credit clarification has sparked retail bullishness on Stocktwits, potentially marking a turning point for Plug Power as it scales hydrogen production to meet growing demand and positions itself for long-term growth.
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