Why Bloom Energy Stock Jumped 10% Tuesday Morning But Then Dropped Quickly

Bloom Energy stock surged 10.7% at market open on Tuesday but quickly gave up all gains by afternoon. The spike was driven by speculation that the company could be added to the S&P 500 index, as it now meets all criteria with a $70 billion market cap and recent profitability. Additionally, an analyst upgrade of rival FuelCell Energy validated the fuel cell market opportunity, where Bloom Energy is positioned as the industry leader with strong growth projections and major contracts including a 2.8 gigawatt partnership with Oracle.