FuelCell Energy stock drops after share offering

Shares of FuelCell Energy Inc.

were down more than 20% on Wednesday, a day after the company announced a share offering around 34.5 million shares, including 19.82 million shares of common stock sold by the company and 14.69 million “by certain stockholders,” FuelCell said. Proceeds of the sale will be use to repay debt. Shares of FuelCell have nearly tripled this year, compared with gains around 13% for the S&P 500 index.

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