On January 5, shares of fuel cell-based power system supplier FuelCell Energy, Inc. (FCEL) increased by 5.65% to $11.60 in trading. This was due to investors’ activity in the renewable energy industry, but at the same time, the FuelCell itself will maintain prospects to grow this year.
In November-December, the shares of leading public actors in the green energy sector saw strong growth. The primary explanation for this is the belief that the incoming US President Joe Biden’s presidency will benefit from a law to boost the U.S. economy and green initiatives. Fuel cell developers, like FuelCell, for whom the tax gain would be 26 percent over two years, could also benefit from the proposed tax deductions.
3 Tiny Stocks Primed to Explode The world's greatest investor — Warren Buffett — has a simple formula for making big money in the markets. He buys up valuable assets when they are very cheap. For stock market investors that means buying up cheap small cap stocks like these with huge upside potential.
We've set up an alert service to help smart investors take full advantage of the small cap stocks primed for big returns.
Click here for full details and to join for free
Such expectations are the key driver of shares growth in December, but there is also an additional factor: many major stocks do not engage in trading during the holidays, and the charts will show unpredictable dynamics.
The prospects are still unclear for scaling up hydrogen fuel. Solar and wind power are increasingly growing in the field of renewable energy generation, lithium-ion batteries are becoming cheaper, and a new generation of energy storage systems will replace them in 20-30 years. This leaves a small gap for hydrogen oil.
This niche will, however, offer substantial benefits to individual players, as there are places where most zero-emission power plants cannot be used. Marine vessels that are unable to physically hold enough solar panels and batteries for electrification, for instance, are a targeted market for suppliers of fuel cells.
FuelCell Energy, Inc. (FCEL) is one of the oldest competitors in the market for fuel cells and runs North America’s biggest hydrogen power plants. The company’s shares receive good positive momentum on a daily basis, as it grew from $2.22 on January 6, 2020 to current levels in yesterday’s trading.