It has been a rough few weeks for the tech sector and alternative energy stocks. But after monthly declines of up to 50% through last week in some cases, investors are warming back up to renewable energy names.
That rebound continues today as shares of fuel cell companies including Plug Power (NASDAQ: PLUG) , FuelCell Energy (NASDAQ: FCEL) , and Ballard Power Systems (NASDAQ: BLDP) jumped double digits early in Wednesday's trading. As of 11:20 a.m. EST, shares had pared gains, with Plug Power up 3.8%, FuelCell Energy up 8.3%, and Ballard Power up 3.7%.
The recent rotation out of growth and into more value-oriented names has provided some investors an opportunity to pick up richly valued companies at lower share prices. Even with today's bump, over the last month, shares in Plug Power, FuelCell Energy, and Ballard Power are off 37%, 43%, and 42%, respectively.
For further details see:
Why Plug Power, FuelCell Energy, and Ballard Power Systems Stocks All Jumped Today