Why Bloom Energy's Shares Popped 34.3% Today

Travis Hoium, The Motley Fool
Why Bloom Energy's Shares Popped 34.3% Today

Shares of Bloom Energy (NYSE: BE) jumped as much as 34.3% in trading Tuesday after announcing a huge partnership with Samsung Heavy Industries. Bloom Energy and Samsung Heavy Industries have signed a joint development agreement to create fuel cell-powered ships. This could be a 300-megawatt (MW) market annually for Bloom Energy, which is major considering the fact that the company had 380 MW of deployments between its founding in 2001 and the end of 2019.