Up Over 1,000% in 6 Months, FuelCell Energy Stock Busts Out of the Basement
Plummeting 62% in 2019, shares of FuelCell Energy (NASDAQ: FCEL) ended the decade on a particularly sour note -- especially considering its peers, Plug Power (NASDAQ: PLUG) and Ballard Power Systems (NASDAQ: BLDP), were two of the best performing renewable energy stocks of the year. A look at the stock's performance over the past six months, however, tells a very different story -- the stock has skyrocketed more than 1,000% from the end of June to the beginning of January due to a variety of reasons.
Unlike Plug Power and Ballard Power Systems, FuelCell Energy's stock didn't benefit from analysts' upgrades, nor did it prosper due to the company's progress toward profitability. Rather, investors celebrated the completion of the company's restructuring initiative, progress in its carbon capture business, and the growing of its pipeline.
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Source Fool.com
