Why Bloom Energy Stock Continues to Slide Today
Shares of energy-in-a-box fuel cell company Bloom Energy (NYSE: BE) ended the day down 4% on Monday, which was actually good news considering that they were down even more earlier in the day. But Monday is history, and in Tuesday trading, Bloom Energy stock is leading the alternative energy sector even lower once again. As rival fuel cell stocks like Ballard Power (NASDAQ: BLDP) and Plug Power (NASDAQ: PLUG) give up a percentage point or two, respectively, Bloom Energy stock is down a whopping 7.2%.
Image source: Getty Images.
Does that make sense? Yes, Barron's magazine raked Bloom and other fuel cell stocks over the coals, declaring the run-up in hydrogen fuel-cell stocks a "bubble." The magazine attributed it to news reports that the European Union is planning "to invest hundreds of billions of euros in technologies enabling it to get a substantial share of its energy from hydrogen by 2050." Nevertheless, Barron's notes that "it could take a decade before environmentally friendly hydrogen is competitively priced with natural gas."
Source Fool.com
