Long Position on BE @ $27.00 on 10/28/2021 (Momentum)

Bloom Energy Corporation (BE) designs, manufactures, and sells solid-oxide fuel cell systems for on-site power generation in the United States, Japan, China, India, and the Republic of Korea.

The company offers Bloom Energy Server, a power generation platform that converts standard low-pressure natural gas, biogas, or hydrogen into electricity through an electrochemical process without combustion.

It serves hospitals, healthcare companies, retailers, and data centers. The company was formerly known as Ion America Corp. and changed its name to Bloom Energy Corporation in September 2006.

Bloom Energy Corporation was incorporated in 2001 and is headquartered in San Jose, California.

Bloom Energy and SK Ecoplant have announced that they are planning on expanding their partnership to include purchasing a minimum of 500 megawatts from Bloom Energy, representing a $4.5B revenue commitment; co-creating two hydrogen innovation centers; and targeting an equity investment of approximately $500M. The intent of this partnership is to accelerate the global market expansion for Bloom Energy’s hydrogen fuel cell and hydrogen electrolyzer products. SK ecoplant will invest $255M in Bloom Energy by acquiring 10M shares of zero coupon, non-voting redeemable convertible preferred stock at a price of $25.50 per share. This partnership should help the company's revenue increase and send share prices higher.

Please note, this stock reports earnings on November 4. News of the partnership should contribute to a strong earnings report.

Entry Point: $27.00

Trading Range: $12.37 - $44.95

Stop Loss: $25.75

Target Price: $29.50

Updates

10/29/2021 9:52:58 AM

BE closed at $30.50

Position closed on 10/29/2021 at price of $30.50 with a 12.96% gain in 1 days.

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