Why Bloom Energy Stock Just Popped

Bloom Energy (NYSE: BE) stock jumped out of the gate Friday, racing ahead 6.2% through 10:45 a.m. EDT on the back of a bullish note from investment bank J.P. Morgan. Citing a 21% pullback in Bloom's share price over the past month, J.P. insisted that the stock is still worth $36 a share, and upgraded its recommendation to "overweight." From November last year through February 2021, the analyst says, investors were exhibiting "momentum-style euphoria" over the prospects for hydrogen fuel cell stocks.