Why Plug Power and Nikola Dropped, But Bloom Energy Popped Today
The fuel cells sector of the stock market is looking all shook up this morning, with shares of manufacturer Plug Power (NASDAQ: PLUG) down 2.1% and truck maker Nikola (NASDAQ: NKLA) crashing 13.7% as of 10:40 a.m. EDT. Last night after close of trading, Bloom reported a modest 3.5% gain in sales year over year for its fiscal third quarter — $207.2 million in total. Adding to the misery, Bloom’s loss when calculated according to generally accepted accounting principles (GAAP) was an even higher $0.30 per share.
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