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Why Bloom Energy Stock Plunged More Than 10% Today

·3 min read
Why Bloom Energy Stock Plunged More Than 10% Today
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Shares of Bloom Energy (NYSE: BE) plummeted on Monday and were down a whopping 10.9% as of 3 p.m. ET as multiple developments combined to put the fuel-cell stock under tremendous pressure. Although the $1.2 trillion bipartisan bill is much smaller than President Joe Biden's originally proposed infrastructure spending plan, it nonetheless places strong emphasis on alternative energy. Biden is about to sign the bill into law at a signing ceremony today, and that news is mainly why the market is dumping Bloom Energy shares.