Bloom Energy (BE) Mirrors Upbeat Market, Climbs 15%

We recently published 10 Stocks With Effortless 14-25% Gains. Bloom Energy Corp. (NYSE:BE) is one of the best performers on Thursday.

Bloom Energy bounced back by 15.21 percent on Thursday to close at $118.09, mimicking a mostly optimistic market driven by increasing hopes for an interest rate cut.

Policymakers are set to meet for their last Federal Open Market Committee Meeting for the year on Wednesday next week, and economists are doubling down on expectations for a 25-basis-point rate cut.

In other recent news, Bloom Energy Corp. (NYSE:BE) reported a dismal earnings performance in the third quarter of the year, having widened its net loss attributable to shareholders by 56 percent to $23 million from $14.7 million year-on-year.

Revenues, on the other hand, grew by 57 percent to $519 million from $330 million in the same period last year, on the back of a 55.7 percent jump in product and service revenues during the same period.

Despite the mixed results, Bloom Energy Corporation (NYSE:BE) remained optimistic about its business outlook amid “powerful tailwinds” including the surging demand for electricity driven by AI and nation-state priorities, among others.

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Disclosure: None. This article is originally published at Insider Monkey.