Why Plug Power, Nikola, and Bloom Energy All Dropped, Then Popped Today
Hydrogen-related stocks tumbled early this morning before a turnaround took them into positive territory. The moves of Plug Power (NASDAQ: PLUG), Nikola (NASDAQ: NKLA), and Bloom Energy (NYSE: BE) outpaced the overall market on both the downside and upside. After each dropped more than 5% early in the session, all three had turned solidly positive as of 11:29 a.m. ET:
The initial negative reaction came after CNBC highlighted some comments made by Tesla CEO Elon Musk earlier this week at the Financial Times Future of the Car summit. Musk has been known to discredit hydrogen as a fuel option that could help the world transition to green energy. But this week the electric vehicle trailblazer called hydrogen, "the most dumb thing I could possibly imagine for energy storage."
Source Fool.com
