Why FuelCell Energy Stock Popped a Lucky 7%
FuelCell Energy (NASDAQ: FCEL) stock jumped 7% through 11:10 a.m. ET Wednesday on what appears to be rather ho-hum news. This morning, the manufacturer of stationary fuel cells for off-grid power production set a date for reporting its Q4 2024 earnings results. Earnings will come out next Thursday, Dec. 19, at 10 a.m. ET.
Next Thursday will be a big day for FuelCell, as the company has been undergoing some big changes. On Nov. 7, FuelCell announced plans to revive its lagging stock price and avoid Nasdaq delisting by running a 1-for-30 reverse stock split. This traded one high-priced FuelCell share for every 30 penny stock FuelCell shares its investors were holding at the time.
Had FuelCell not reverse-split its shares, investors who hold one FuelCell share worth $12 today would instead own 30 shares costing about $0.40 each.
Source Fool.com
