FCEL stock is tanking. See the chart and price action here.
FuelCell Energy will grant the underwriters a 30-day option to purchase up to an additional 15% of the shares of common stock sold in the offering and intends to use the net proceeds for capex related to the expansion of manufacturing capacity to support growth and other general corporate purposes.
Shares fell more than 16% on the news, adding to the 12% loss from the regular trading session as traders took profits after a sharp run tied to the company’s recent data-center and financing headlines.
FCEL Technicals
The RSI is currently at 60.25, which is in neutral territory but suggests that the stock still has room to run before reaching overbought conditions. This level indicates that while there is positive momentum, traders should watch for any signs of reversal as the stock approaches higher levels.
