Why Bloom Energy Stock Sank 17.3% In November
Shares of Bloom Energy (NYSE: BE) fell 17.3% in November, according to data from S&P Global Market Intelligence. The company behind an innovative fuel cell solution was riding high with the boom in artificial intelligence (AI) stocks, but fell along with the rest of the sector last month. December has been a better month for Bloom Energy, with the share price recovering and getting back close to an all-time high.
Here's why Bloom Energy stock fell 17% in November.
Bloom Energy has developed a fuel cell technology that can directly turn fossil fuels like natural gas into electricity, bypassing the traditional energy grid. These fuel cells work perfectly for AI datacenters, which use a boatload of electricity and are running up on supply shortages with the normal utility grid. Bloom fuel cells allow these "AI factories" to directly source electricity onsite.
Source Fool.com
