FuelCell Energy, Inc. (NASDAQ: FCEL) is trading higher on exponential trading volume this Wednesday after reaching a memorandum of understanding to form a German-based joint venture with the Institute for Ceramic Technologies and Systems to develop the market in Europe for Direct FuelCell stationary power plants. The German partner will also contribute “certain assets and their expertise” in fuel cells and materials science to the joint venture.
Shares are up 17% at $1.71, but the trading volume of 6.8 million shares compares to a routine normal trading day of 1.2 million shares.
What is more interesting is that stock options are even active today… The JULY 2012 $2.00 CALLS have traded a whopping 5,694 contracts versus a prior open interest of only 981 contracts. Many would argue that a stock under $2.00 is only an option any way. This is a new position and the bulk of the trading was buying calls. If the sale quotes are accurate, then that represents new speculation that more great news is coming out for this manufacturer of fuel cell power plants between now and July 20, 2012.
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