FuelCell Energy (FCEL) Trades At Multi-Year High: Still a Good Buy?

Hydrogen fuel stocks have managed to record significant gains in recent times and one of the most notable movers among those has been FuelCell Energy Inc (NASDAQ: FCEL). The stock rallied strongly and hit $20 a share from a $7 value before correcting somewhat.

However, experts believe that there could be more upside to the stock in the near term. Hence, it could be a prudent move to perhaps take a look at the company’s business a bit more closely.

Related:  Crescent Point Energy (CPG) Set To Gap Up Today: How to Trade Now?

At this point in time, the world is looking at ways to not only meet its energy needs but also to reduce damaging emissions at the same time. In order to accomplish that, hydrogen fuel has emerged as a viable option for many.

More importantly, the new United States President Joe Biden is all set to get the country back into the Paris climate agreement. Hydrogen fuel is one of the things on the agenda. Considering such developments, it might be worthwhile for investors to track the FuelCell stock at this point.

Related:  MDM Permain (MDMP) Soared 2900%: Why Such a Big Jump?

Jack Dawkins

Finance and Tech Contributor