Plug Power (PLUG) Is Up 15.7% After Walmart Forfeits Massive Warrant Overhang - Has The Bull Case Changed?

In late December 2025, Plug Power and Walmart signed a 15-year Release Event License Agreement giving Walmart contingent access to escrowed GenKey materials for internal maintenance, while Plug Power retains intellectual property rights and receives initial and recurring license fees. A crucial feature of this deal is Walmart’s termination and forfeiture of its large Plug Power stock warrant, removing a very large potential future share issuance that had weighed on concerns about dilution...