Why Alternative Fuel Stocks Plunged by Double Digits Today
Shares of alternative fuel companies dropped across the board despite some potentially positive news on Monday. Plug Power (NASDAQ: PLUG) shares fell as much as 11% and closed the day down 10.7%. Ballard Power Systems (NASDAQ: BLDP) fell as much as 15.4% before closing down 11.1%. And Bloom Energy (NYSE: BE) shares were off as much as 12.5% before ending the day down 11.7%.
The news was seemingly very good for alternative fuel stocks today. Plug Power got a higher price target from Craig Irwin at Roth Capital, who moved his estimate from $12 to $13 per share. He also increased his price target on Ballard Power Systems from $20 to $25.
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Source Fool.com
