FuelCell Energy leads losses with an 8% drop as higher Treasury yields pressure long-duration hydrogen equities.
Hydrogen stocks fell Thursday as rising 10-year Treasury yields near 4.71% triggered a risk-off rotation, hitting long-duration equities with no near-term profit cushion. FuelCell Energy (FCEL) plunged 8% to $18.72, outpacing declines in larger peers like Bloom Energy (BE), down 3% to $199.68, and Plug Power (PLUG), off 3% to $2.18.
The selloff reflects market cap disparities, with FuelCell’s $1.49 billion valuation amplifying losses compared to Bloom Energy’s $59 billion. The Global X Hydrogen ETF (HYDR) slipped just 2% to $42.78, its diversified holdings mitigating sharper declines seen in single stocks.
No company-specific news drove the move, underscoring macro-driven pressure on the sector.