Why Bloom Energy Stock Plunged This Week
Bloom Energy (NYSE: BE) stock has kicked off 2022 on a somber note, with shares of the fuel cell specialist dropping 11.4% through the first week of January as of 12:30 p.m. ET Friday, Jan. 7, according to data provided by S&P Global Market Intelligence. Bloom Energy is getting a lot of love from the analyst community, but the market doesn't seem convinced yet.
On Jan. 5, KeyBanc Capital analyst Leo Mariani released a bullish note on fuel cell stocks, projecting fuel cell companies in the U.S. to benefit from a "rapidly growing market for their services as fuel cell adoption is poised to accelerate this decade," as reported by TheFly.com. Mariani further estimates the total fuel cell addressable market to be worth a whopping $300 billion by 2030, and sees potential in fuel cell companies to grow revenue by between 20% and 80% in 2022 alone.
Image source: Bloom Energy.
Source Fool.com
