Why Bloom Energy Stock Plunged More Than 10% Today
Shares of Bloom Energy (NYSE: BE) plummeted on Monday and were down a whopping 10.9% as of 3 p.m. ET as multiple developments combined to put the fuel-cell stock under tremendous pressure.
I'll start with the first reason, which also appears to be the most obvious reason behind the drop in Bloom Energy shares today: Sell the news.
Bloom Energy shares rocketed alongside rivals last week after the highly anticipated passage of an infrastructure bill. Although the $1.2 trillion bipartisan bill is much smaller than President Joe Biden's originally proposed infrastructure spending plan, it nonetheless places strong emphasis on alternative energy.
Source Fool.com