Benzinga | Oct 4, 2021 01:00PM EDT

Why FuelCell Shares Are Falling

FuelCell Energy Inc (NASDAQ:FCEL) shares are trading lower amid a rise in bond yields, which has weighed on growth stock valuations.

The 10-year Treasury yield hit an intraday high of 1.508% Monday morning before dipping to around the 1.496% level. The spike in the 10-year note Monday comes after the Federal Reserve in September spoke on winding down its ongoing asset purchasing program.

FuelCell Energy is a fuel-cell power company. FuelCell designs, manufactures, sells, installs, operates and services fuel cell products, which efficiently convert chemical energy in fuels into electricity through a series of chemical reactions.

FuelCell has a 52-week high of $29.44 and a 52-week low of $1.58.