5 Best Penny Stocks to Buy and Hold According to Reddit

1. FuelCell Energy, Inc. (NASDAQ:FCEL)

Number of Hedge Fund Holders: 16

Stock Price as of July 29: $3.570

FuelCell Energy, Inc. (NASDAQ:FCEL) is a Danbury, Connecticut-based designer, manufacturer, operator, and service provider of fuel cells.

FuelCell Energy, Inc. (NASDAQ:FCEL) can become a beneficiary of the $369 billion energy and climate change bill presented by Senator Joe Manchin and majority Leader Chuck Schumer on July 27. This is the biggest climate change investment approved by Congress in history. The bill aims to bring carbon emissions to 60% of the current level by the end of this decade. According to Bronson Fleig at Truist, the bill will act as a catalyst for stocks in the alternative energy universe. Around $27 billion will be diverted toward the research and development of clean energy alternatives. A company like FuelCell Energy, Inc. (NASDAQ:FCEL) can capitalize on the $10 billion investment tax credit aimed toward manufacturing clean energy products.

D E Shaw was the leading hedge investor in FuelCell Energy, Inc. (NASDAQ:FCEL), with a cumulative stake worth over $23.5 million as of Q1 2022.

You can also take a peek at the 10 Best Stocks For Inflation According to Redditors and 7 Energy Stocks to Buy Now According to Billionaire Leon Cooperman.

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