FCEL Stock News: FuelCell energy soars higher as Biden plan hits Capitol Hill
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UPGRADE- NASDAQ:FCEL gained 8.14% during Thursday’s trading session.
- President Biden’s renewable infrastructure plan seeks final approval.
- The renewable energy sector surged once details were released.
NASDAQ:FCEL snapped its recent skid and was re-energized on Thursday, after the major renewable energy plan approaches final approval. Shares of FCEL were up 8.14% and closed the session at $7.57. FuelCell outpaced the NASDAQ index, which also saw a positive day on Thursday. That is until Apple (NASDAQ:AAPL) and Amazon (NASDAQ:AMZN) tanked their third quarter earnings report, sending both stocks down over 4.0% in extended trading hours. The disappointing earnings also sent S&P 500 futures spiralling downwards, as two of its largest constituents sold off. FuelCell managed to erase the losses from the past two sessions, in what has been a rather eventful week for the hydrogen and renewable energy sector.
Stay up to speed with hot stocks' news!
The major catalyst on Thursday was a report that President Biden was visiting Capitol Hill with his much talked about renewable energy bill. Although it originally called for as much as $3.5 trillion, the plan has been slimmed down to a mere $1.75 trillion. Some key parts of Biden’s plan were scrapped, although the part that renewable energy investors were excited about remained intact. Specifically, the $500 billion that will be designated for renewable energy infrastructure, and the next generation of clean energy vehicles.
FCEL stock forecast
The broader renewable energy sector was firing on all cylinders following the news, with Plug Power (NASDAQ:PLUG) and Bloom Energy (NYSE:BE) building upon their already strong weeks. Shares of PLUG were up 7.85% and Bloom Energy climbed a further 5.98% on Thursday, while ancillary stocks like Ballard Power (NASDAQ:BLDP) and even Workhorse Group (NASDAQ:WKHS) were also trading higher during the session.
- NASDAQ:FCEL gained 8.14% during Thursday’s trading session.
- President Biden’s renewable infrastructure plan seeks final approval.
- The renewable energy sector surged once details were released.
NASDAQ:FCEL snapped its recent skid and was re-energized on Thursday, after the major renewable energy plan approaches final approval. Shares of FCEL were up 8.14% and closed the session at $7.57. FuelCell outpaced the NASDAQ index, which also saw a positive day on Thursday. That is until Apple (NASDAQ:AAPL) and Amazon (NASDAQ:AMZN) tanked their third quarter earnings report, sending both stocks down over 4.0% in extended trading hours. The disappointing earnings also sent S&P 500 futures spiralling downwards, as two of its largest constituents sold off. FuelCell managed to erase the losses from the past two sessions, in what has been a rather eventful week for the hydrogen and renewable energy sector.
Stay up to speed with hot stocks' news!
The major catalyst on Thursday was a report that President Biden was visiting Capitol Hill with his much talked about renewable energy bill. Although it originally called for as much as $3.5 trillion, the plan has been slimmed down to a mere $1.75 trillion. Some key parts of Biden’s plan were scrapped, although the part that renewable energy investors were excited about remained intact. Specifically, the $500 billion that will be designated for renewable energy infrastructure, and the next generation of clean energy vehicles.
FCEL stock forecast
The broader renewable energy sector was firing on all cylinders following the news, with Plug Power (NASDAQ:PLUG) and Bloom Energy (NYSE:BE) building upon their already strong weeks. Shares of PLUG were up 7.85% and Bloom Energy climbed a further 5.98% on Thursday, while ancillary stocks like Ballard Power (NASDAQ:BLDP) and even Workhorse Group (NASDAQ:WKHS) were also trading higher during the session.
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