What Happened?

Shares of electricity generation and hydrogen production company Bloom Energy (NYSE:BE) jumped 6.6% in the afternoon session after Conagra (NYSE:CAG) announced plans to partner with the company (Bloom Energy) to deploy Bloom's fuel cell technology at its manufacturing plants in Troy and Archbold, Ohio. 

Bloom Energy is expected to provide roughly 70% to 75% of the electricity needs at both facilities, significantly reducing Conagra's reliance on traditional power sources. For Bloom Energy, the deal marked a big step forward and showed more firms want clean power. The size of the project, paired with favorable investor sentiment, suggested that the partnership could materially improve Bloom Energy's revenue visibility and strengthen its positioning in the industrial energy market.

The shares closed the day at $21.26, up 8.1% from previous close.

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What The Market Is Telling Us

Bloom Energy’s shares are extremely volatile and have had 62 moves greater than 5% over the last year. In that context, today’s move indicates the market considers this news meaningful but not something that would fundamentally change its perception of the business.

Bloom Energy is down 9.3% since the beginning of the year, and at $21.20 per share, it is trading 28.9% below its 52-week high of $29.81 from January 2025. Investors who bought $1,000 worth of Bloom Energy’s shares 5 years ago would now be looking at an investment worth $4,753.

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