Quick Read – Plug Power falls 5% and Bloom Energy sinks 8% as the 10-year yield near its 52-week high compresses valuations and raises borrowing costs. – HYDR has gained 44% year to date, but its narrow hydrogen focus provides no shelter when rising rates derate the entire…
ctor at once. – Bloom Energy’s 8% drop contrasts with FuelCell Energy’s near-flat session, pointing to a rate-driven derate rather than any underlying demand concern. – Act now: the analyst who called NVIDIA in 2010 just named his top 10 AI stocks — and Plug Power didn’t make the cut. Grab the names FREE today
Hydrogen and fuel cell stocks are sliding Tuesday morning as the 10-year Treasury note yield sits near the top of its 52-week range. Plug Power (NASDAQ:PLUG) stock is down 5% to $2.17. Meanwhile, Bloom Energy (NYSE:BE) stock is falling 8% to $214.44.
FuelCell Energy (NASDAQ:FCEL) stock is holding relatively steady, as it’s only down 0.5% to $22.25. Plug Power, Bloom Energy, and FuelCell Energy fund plants, manufacturing capacity, and long-duration projects, so higher discount rates compress their valuations while higher borrowing costs raise the price of buildout. Both effects push the same way.