Here's Why Bloom Energy Rose 35.5% in June
Shares of Bloom Energy (NYSE: BE) rose over 35% last month, according to data provided by S&P Global Market Intelligence. The solid-oxide fuel cell pioneer had a relatively uneventful month until June 29. That's when the company announced it had signed a joint development agreement (JDA) with Samsung Heavy Industries to study and design fuel-cell-powered cargo ships.
The JDA builds on the collaboration originally announced in September 2019, which signaled to investors that the duo were exploring the potential to build cargo ships capable of being powered by natural-gas-fed fuel cells. Investors are hoping the relationship can become an important driver for the growth stock, but a payoff is years away.
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Source Fool.com
