Bloom Energy Stock Falls 23% Over The Last Month. Should You Buy?

Bloom Energy Stock Falls 23% Over The Last Month. Should You Buy?

Bloom Energy stock (NYSE: BE), a company that sells solid oxide fuel cell generators, has declined by about 23% over the last month, considerably underperforming the S&P 500 which remains down by 3. 3% over the same period. There are a few broad factors driving the recent sell-off. Hydrogen stocks at large have underperformed recently due to the stalling of President Joe Biden's social-spending and climate-focused Build Back Better plan, which had proposed to provide tax credits for hydrogen production. While we could see a scaled-back version of the plan in the coming weeks, the specifics are not clear, and this likely isn't helping hydrogen stocks. Separately, growth and futuristic stocks have also been impacted by the prospect of rising interest rates and tighter monetary policy, and stocks such as Bloom, which remain loss-making, have been particularly badly hit. While BE stock may see lower levels going forward, it is helpful to see how its peers stack up. Check out Bloom Energy Peers to see how BE stock compares against peers on metrics that matter. You can find more useful comparisons on Peer Comparisons. Calculation of 'Event Probability' and 'Chance of Rise' using last four years data Below you'll find