On October 13, FuelCell fell 8.19% in Regular Trading, trading near $15.02 per share, with turnover of $47.03 million.

The move followed continued market concern over the company’s chief financial officer transition and lingering uncertainty around the timing of its profitability targets.

FuelCell had previously announced that CFO Michael Bishop stepped down effective immediately and was succeeded by Matthew Latino, while Bishop will remain as a senior advisor through the company’s annual stockholder meeting in 2027. The company also reiterated its goal of achieving positive adjusted EBITDA in the fourth quarter of fiscal 2027, but said that target depends on factors including higher annualized production rates and conversion of awarded capacity backlog. That combination of a key management change and execution-dependent guidance appears to have kept short-term selling pressure elevated, especially after the company’s September quarterly report missed revenue expectations.

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