Why Shares of FuelCell Energy Surged 410% in November
Lagging the market through the first 10 months of the year, shares of FuelCell Energy (NASDAQ: FCEL) plunged more than 20% (to the chagrin of shareholders) while the S&P 500 inched about 1.2% higher. Then November came, a month in which the stock soared 410%, according to data from S&P Global Market Intelligence.
Investors unfamiliar with fuel cell stocks would likely surmise that the movement in FuelCell Energy's stock last month stemmed from the company making several auspicious business announcements. Those who track fuel cell stocks, however, will be unsurprised to find that this wasn't the case at all. FuelCell Energy had no news to report. Instead, the stock's movement was reflecting the recent fervor surrounding fuel cell stocks.
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Source Fool.com
