At first, Thursday looked like it was going to be another great day for hydrogen fuel cell stocks . But then came the downgrade.
In early trading, shares of hydrogen economy leaders Plug Power (NASDAQ: PLUG) and Bloom Energy (NYSE: BE) popped more than 7% each, while their smaller rival, FuelCell Energy (NASDAQ: FCEL) , which focuses on stationary power stations utilizing fuel cells, was up 17.5%. Sadly for momentum investors, it was at this point that investment bank J.P. Morgan chose to pop the fuel cell stock bubble, downgrading FuelCell shares to neutral.
As of 12:10 p.m. EST, shares of FuelCell have given up almost all their gains, holding onto just a 3.7% rise, while Plug is up 3.2% and Bloom Energy is up 5.4%.
For further details see:
Why Hydrogen Fuel Cell Stocks Jumped -- Then Gave Most of It Back -- on Thursday