Why Bloom Energy Stock Shot Up 37% Today
Shares of hydrogen fuel cell maker Bloom Energy Corp (NYSE: BE) are up 34% at 12:58 p.m. EDT on July 15, down a little from the intra-day high of 37%. Today's massive surge comes after Bloom announced an expanded partnership with a large South Korean engineering and construction company, SK Engineering & Construction, that would position it as a leader in that country's fast-growing hydrogen market.
It's a massive potential deal; the two companies anticipate being able to deploy 400 megawatts of fuel cells into the market per year as a result of this expansion. That's more than the company's entire sales over that past year.
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Source Fool.com