Why Plug Power, Bloom Energy, and FuelCell Energy Stocks Plunged on Friday
Hydrogen fuel-cell stocks sank on Friday as macroeconomic news rattled the stock markets and triggered a massive sell-off in growth stocks in particular. By 3 p.m. ET on Friday, here's how much some of the most popular names from the niche renewable energy space had declined:
Pressure started to build on hydrogen and fuel cell stocks earlier this week after the emergence of a new and potentially more infectious COVID-19 variant, omicron, shook nations across the globe. Just when economies were reopening and the United States was about to step on the gas with a $1.2 trillion infrastructure package, a new variant has renewed fears of lockdowns and yet another economic slowdown.
Investors in clean energy cheered the infrastructure package, with shares of Plug Power, FuelCell Energy, and Bloom Energy rocketing the day that the bipartisan bill was passed.
Source Fool.com
