Keep an eye on Plug Power (PLUG).

After a rough outing in late 2021, the hydrogen stock is showing signs of life.  In fact, we’d use the latest pullback from $32 as an opportunity to buy.

For one, we have to remember the hydrogen story could be worth trillions.

Goldman Sachs called hydrogen a “once in a lifetime opportunity,” adding, the addressable market could be worth up to $11.7 trillion in the next 30 years.  Analysts at Bank of America say green hydrogen could be worth more than $11 trillion by 2050.

Two, “If we want to go to net-zero we can’t do it just through renewable power,” Michele DellaVigna, Goldman Sachs’ commodity equity business unit leader, told CNBC. “We need something that takes today’s role of natural gas, especially to manage seasonality and intermittency, and that is hydrogen.”

Three, Plug Power just disclosed an agreement with Walmart to deliver up to 20 tons per day of liquid green hydrogen, according to MarketWatch.com, and will be used to power material handling lift trucks across Walmart’s U.S. distribution and fulfillment centers.

“This is one of the first green hydrogen supply contracts for Plug, validating the company’s multi-year investment in its green hydrogen network,” according to a company release.