Hyperdrive
Plug Power and FuelCell Boom Raises Specter of 2000 Bust
- FuelCell valuation was double its current levels 21 years ago
- Investment firm worries today could mirror boom-bust cycle
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Clean-energy stocks have surged in the past year, raising alarm bells on Wall Street, which considers the gains too frothy -- but this latest rally ain’t nothing but a blip compared with the boom and bust experienced by the sector at the turn of the millennium.
Plug Power Inc. and FuelCell Energy Inc. are just two examples of companies that have soared in the past 12 months, having gained more than 10-fold since March 2020 in a reflection of growing investor enthusiasm for the fuel cells used in electric vehicles and power plants.