Why Clean Energy Stocks Popped on Monday
Shares of clean energy companies Bloom Energy (NYSE: BE) and FuelCell Energy (NASDAQ: FCEL) jumped as much as 8.7% and 15.8%, respectively, as investors bid up renewable energy stocks on Monday. Shares closed the day up 5.7% and 11.7%, respectively.
Neither company was connected to any specific news that came out on Monday, but there was a lot of movement in the energy sector overall. West Texas Intermediate crude oil traded 2.9% higher and Henry Hub natural gas prices rose a whopping 15.6% on the day. Investors were betting that fuel demand will keep rising despite a growing outbreak of COVID-19, and that has pushed energy prices higher overall.
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Source Fool.com
