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Technology Stocks : FuelCell Energy - going green
FCEL 8.950+15.8%Oct 31 9:30 AM EST
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To: invest07 who wrote (202)8/30/2023 10:48:20 AM
From: robert b furman  Read Replies (2) of 211
 
Yesterday I just purchased an initial position in Fuel Cell - which has had a huge decline of late.

It appears to be finishing up an Corrective wave, which may yet require a final bounce and another low.

I'm new to FCEL but have watched it's price action for months.

I'm of the hope that XOM and their initial carbon capture projects on the Gulf of Mexico coast in Texas and Louisiana will be the spark that signifies acceptance of their technology and revenue growth.

Yesterday XOM has renewed their joint venture for some very large carbon capture and sequestration/ pipeline projects to shale areas (which can go hand in hand with XOM's recent acquisition of Denbury).

XOM has long spoken about the value of reducing CO2 at their operations and to sell to other high producers of CO2 ie cement making and steel making. They project huge growth in the future and are in the beginning stages of large commercial projects :
linde.com

If these huge projects begin to become more frequent, either FCEL's revenue will grow exponentially or they themselves may become an acquisition of XOM:

seekingalpha.com

I'd appreciate any insight in this company, that the usual posters here would be kind enough to express.

As the RSI on this company has gone through a very deep trough this last month, I've added 5000 shares at $1.47 and SOLD 50 $1.50 puts for .33.

If assigned to me it will give me an average of 10,000 shares at 1.32 ( a penny above the recent low of $1.31 on 8/28/23).

Thanks in advance for any insight on this emerging technology/ company.

Bob
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