Here's Why Bloom Energy Dropped 25.1% in 2019
Shares of Bloom Energy (NYSE: BE) fell more than 25% last year, according to data provided by S&P Global Market Intelligence. It could have been much worse. The fuel cell stock was down nearly 80% year to date as late as October but rallied on strong third-quarter 2019 operating results in November. For comparison, the S&P 500 gained 28.8% in 2019.
Bloom Energy took the opportunity to calm nervous investors and refute short-seller reports when it announced third-quarter 2019 operating results. Retiring CFO Randy Furr made it clear that the business was on sound financial footing, while a solid quarterly performance provided optimism that the company could become profitable if it continues to scale.
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Source Fool.com
