And it has implications for the equally dramatic action recently in stocks perceived as leveraged to adoption of renewable energy. Tesla Inc TSLA TSLA (TSLA), for example, has a cadre of investor believers who appear willing to defend even its extraordinary enterprise value of 160 times trailing 12 months EBITDA. But it’s a lot harder to see the likes of FuelCell Energy FCEL FCEL (FCEL) and Plug Power PLUG PLUG (PLUG) indefinitely defending post-election gains of roughly 1100% and 300%, respectively. Remember how Trump’s election four years ago supposedly meant the death of renewable energy and resurgence for coal? But the magnitude of new federal funding needed to meaningfully boost fortunes of small renewable energy companies will require Congressional approval.

Source: Forbes February 15, 2021 12:22 UTC