Why Plug Power, Bloom Energy, and FuelCell Energy Stocks Rallied Today
Fuel-cell stocks are flying higher today, building upon the momentum they've carried so far this month. This morning, Plug Power (NASDAQ: PLUG), Bloom Energy (NYSE: BE), and FuelCell Energy (NASDAQ: FCEL) surged within minutes of the market's opening, gaining at least 5% each, with FuelCell energy shares even crossing the 10% mark.
The stocks cooled off a bit as the day progressed but were still trading up as of 12:26 p.m. EDT. Plug Power and FuelCell Energy were up 4.7% and 5.7%, respectively, while Bloom Energy was up about 1% at that point in time.
This morning, Plug Power announced the start of construction at a hydrogen plant. That may not sound like a big deal, but with management stressing how the new plant is entirely a "result of increasing demand," investors in other hydrogen fuel-cell stocks took a cue and sent the shares higher. With the Senate also finally passing a $1 trillion infrastructure bill on August 10, investors in clean energy had a lot to be excited about.
Source Fool.com
