Key Takeaways PLUG stock has plunged 39% YTD amid declining hydrogen infrastructure sales and negative gross margins. Revenues rose 11.1% in Q1 2025, helped by stronger electrolyzer sales and materials-handling demand. Cash burn fell 50% year over year as PLUG launched Project Quantum Leap to drive $200M in annualized savings.Plug Power Inc. (PLUG) , a prominent name in the green hydrogen industry, has seen a 39% plunge in its stock price in the year-to-date period, underperforming the industry as well as ...