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Why FuelCell Energy Stock Just Fell More Than 15%

Why FuelCell Energy Stock Just Fell More Than 15%

FuelCell Energy (NASDAQ: FCEL) is having a rough morning on Wall Street so far. Shares were trading down by 15.6% as of 10:20 a.m. EDT after the company first announced a follow-on offering of 31 million shares of common stock on Tuesday, and then expanded the size of that offering and set a $2.10 sales price for the shares early Wednesday. Consider that the just-announced share price for the secondary offering is still around 3% below the price to which FuelCell has already fallen.