We recently compiled a list of the 10 Stocks Gaining Momentum From Key Collaborations. In this article, we are going to take a look at where Plug Power Inc. (NASDAQ:PLUG) stands against the other stocks.

The US stock indices are decreasing as investors try to make sense of mixed earnings reports from banks. Donald Trump's Treasury choice is being grilled by the Senate on tariffs, Fed independence, and tax cuts. LA wildfires are coming under control, though high winds continue to make things uncertain in the region. Amidst all this, it is business as usual for many companies. From tech companies to automotive, every firm is collaborating with others in the industry to add more value for its customers. Some of these partnerships relate to the improvement of services while others act as value additions to both businesses, such as Microsoft and Pearson plc's partnership on improving education and training.

We compiled a list of 10 stocks that are either surging on such collaborations or have the potential to outperform the market based on business improvements through these collaborations. To come up with our list of 10 stocks that are gaining momentum from key collaborations, we only considered stocks with a market cap of at least $1 billion.

A generator being fueled and readied for use as part of an end-to-end green hydrogen ecosystem.

Plug Power Inc. (NASDAQ:PLUG)

Plug Power Inc. (NASDAQ:PLUG) is a hydrogen solutions provider for the green hydrogen economy operating globally. It recently announced a contract with a Green Ammonia producer, Allied Green Ammonia (AGA). According to this agreement, AGA will install a 4.5 GW plant which will be used by Power Plug to produce clean electricity. AGA’s mega project is expected to produce 2700 tpd of green ammonia.

CEO of Plug expressed his thoughts about this partnership by saying:

Together, we're not only advancing green ammonia production but actively supporting the global transition to a net-zero emissions future.

Plug Power stock hasn’t proved to be a useful long-term investment. However, there have been shorter episodes of bull rallies in the stock that attract traders. Investors would hope that deals like this will bring a sustainable bullish rally in the stock.

Overall PLUG ranks 3rd on our list of the stocks that are gaining momentum from key collaborations. While we acknowledge the potential of PLUG as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns, and doing so within a shorter timeframe. If you are looking for an AI stock that is as promising as PLUG but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.

 

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Disclosure: None. This article was originally published at Insider Monkey.