Bloom Energy Stock Jumps 55% In A Week Following $4.5 Billion Deal. What’s Next?

Bloom Energy Stock Jumps 55% In A Week Following $4.5 Billion Deal. What’s Next?

The stock price of Bloom Energy, a company best known for its modular fuel cell generators targeted at commercial and industrial users, saw its stock rally by a large 55% over the last week (five trading days). The S&P 500 was up by about 2% over the same period. Bloom stock also remains up by about 67% over the last month (21 trading days). The recent gains come as the company won a 500-megawatt plus order from SK Ecoplant an affiliate company of South Korea's SK Group. The supply deal, which is likely to be executed through 2024, is expected to generate at least $4. 5 billion in revenue for Bloom. Moreover, SK Ecoplant is also looking to invest about $500 million in Bloom stock. This deal bodes very well for Bloom's near-term growth, considering that the company is on track to generate just about $1 billion in revenue this year. The deal could also be seen as a vote of confidence of sorts in Bloom's technology, as the global economies prepare for a major shift toward greener energy sources. Now, is BE stock poised to grow? Based on our machine learning analysis of trends in the stock price over