BE - Why Plug Power and Bloom Energy Marched Higher Today -- and Energy Fuels Zoomed
Alternative energy stocks are making headlines again Thursday, as shares of hydrogen fuel cell companies Bloom Energy (NYSE: BE) and Plug Power (NASDAQ: PLUG) continue to climb -- up 2.9% and 7.4%, respectively, as of 12:30 p.m. EST -- and nuclear fuels supplier Energy Fuels (NYSEMKT: UUUU) takes off on a 10.5% romp.
What's behind these moves higher? In the case of Bloom (and Plug, of course), I think we're seeing revived momentum partly tied to Plug's announcement yesterday that it is expanding its relationship with key customer Walmart .
There weren't a whole lot of details given out on the expansion -- just that it relates to Walmart's e-commerce operations and appears to involve "GenKey hydrogen and fuel cell solutions" used in fuel cell-powered forklifts operated at Walmart's distribution centers. And that lack of detail may explain why Plug's share price gains yesterday mostly faded as the day wore on.
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Why Plug Power and Bloom Energy Marched Higher Today -- and Energy Fuels Zoomed