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FuelCell Energy Inc (NASDAQ:FCEL) shares are trading sharply lower on Monday. The stock fell roughly 20% in early trading, erasing a significant portion of its recent massive gains.
The Nasdaq is down 0.81% while the S&P 500 has shed 0.41%.
• FuelCell Energy stock is taking a hit today. Why is FCEL stock dropping?
Retail Traders Pivot To Profit-Taking
The primary driver behind Monday’s decline appears to be aggressive profit-taking. FuelCell Energy stock previously hit a 52-week high of $22.83.
The peak capped a multi-day surge. The stock climbed over 100% in the last month alone. Retail traders are now securing gains after this rapid price appreciation.
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