Why Bloom Energy Stock Dropped Today
Shares of fuel-cell power generator Bloom Energy (NYSE: BE) were down 5% as of 1:30 p.m. EST Wednesday on no company-specific news. Recent gains have been driven by a promising outlook for the industry, but a short-seller report directed at a competitor also was released today.
Fuel-cell stocks have been charging higher in 2021. Bloom Energy shares have gained 32% just since the start of the new year. Much of the optimism comes from the political landscape, which was supported last week when the Department of Energy (DOE) announced new plans for federal funding in the sector.
But Plug Power (NASDAQ: PLUG) was the target of a short-seller report today that may be impacting others in the sector.
Source Fool.com
