Why Shares of Bloom Energy Bounced 17% Higher in December

Extending their 94% rise in November, shares of Bloom Energy (NYSE: BE) rose 17% in December, according to data from S&P Global Market Intelligence. The strong performance in the last month of 2020 helped the stock to lock in an overall gain of 284% for 2020. While not as impressive as the 973% rise in the stock of Bloom Energy's peer, Plug Power (NASDAQ: PLUG), it was surely a welcome sight for investors as Bloom Energy's stock had dipped 25% in 2019.

Unrelated to any company-specific news, the stock's rise could be chalked up to a couple of analysts' affirmations, the growing enthusiasm for hydrogen solutions, and recent legislation.

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Source Fool.com