Why FuelCell Energy Powered 345% Higher in 2020

After plunging 62% in 2019, shares of FuelCell Energy (NASDAQ: FCEL) roared back in 2020 and soared 345%, according to data from S&P Global Market Intelligence. The first seven months of the year looked like 2020 was going to be a repeat performance for the stock as it slid 11% -- an even more disconcerting performance considering the S&P 500 had inched more than 1% higher over the same period.

When the dog days of summer rolled in, however, FuelCell's shares rocketed higher and climbed 27%. Staying hot through the remainder of the year, the stock continued to climb as investors responded to several catalysts including the company winning a project award, favorable outlooks from analysts, and the recently passed stimulus bill.

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Source Fool.com