Bloom Energy Tumbles 13%, FuelCell Energy Drops 9%, Plug Power Slips 4% in Fuel-Cell Selloff - 24/7 Wall St.

What the report says

24/7 Wall St. reported that hydrogen and fuel-cell shares sold off sharply in Friday afternoon trading, with Bloom Energy down 13% to about $188, FuelCell Energy lower by roughly 9% to around $21, and Plug Power off 4% to $2.10. The article, published July 24 by David Moadel, said there was no obvious company-specific news driving Bloom Energy’s decline and described the move as part of broader pressure on a high-volatility sector trade tied to AI power demand.

The report pointed to the Global X Hydrogen ETF, which holds Bloom, FuelCell and Plug, falling 5% to about $42 as evidence that selling was affecting the wider hydrogen complex rather than one issuer alone. Even after the pullback, 24/7 Wall St. said Bloom remained up 119% year to date and FuelCell Energy up 192%, highlighting how steep prior gains can leave shares vulnerable when investor sentiment turns.

For Bloom, the article said the bullish case has been supported by on-site power opportunities for AI data centers, including an Oracle-linked warrant partnership, and by first-quarter 2026 revenue of $751.1 million, up 130.4% year over year, alongside raised full-year guidance of $3.4 billion to $3.8 billion. It also noted an early-July short-seller report questioning some of Bloom’s claims, plus a related securities class-action investigation, as an existing overhang.

FuelCell’s recent results were described as mixed, with Q2 2026 revenue of $35.6 million and a non-cash impairment tied to its Groton project, while Plug’s smaller drop came after a more modest year-to-date gain. The report said investors are watching whether the selloff continues and whether upcoming earnings updates alter the sector narrative.