Why Plug Power, Bloom Energy, and JinkoSolar Stocks Are Sinking Wednesday
On Wednesday, things aren't looking great for investors in the renewable energy sector. At 11:25 a.m., shares of hydrogen fuel-cell companies Bloom Energy (NYSE: BE) and Plug Power (NASDAQ: PLUG) are both down significantly more than average -- 7.3% and 8%, respectively. Elsewhere in the industry, Chinese solar-module maker JinkoSolar (NYSE: JKS), which went on a tear earlier in the week, is giving back a lot of its gains -- and falling 12%.
Image source: Getty Images.
What do these three stocks have in common, other than all being broadly within the "alternative energy" sector? For one thing, they're "alternatives" to oil stocks -- which is a good thing when oil is expensive and producers and consumers are all looking for not just cleaner but cheaper sources of energy.
Source Fool.com