Capstone Turbine (CPST) Popping After Press Release Indicates It’s Eligible For Government Funds

Last week I reported on the government’s plan to get $3 billion in the hands of alternative energy companies quickly by providing funding up front rather than on the back end through tax breaks.  This morning, the company is making sure we all know that they are eligible for the funds by sending out a press release.

“Capstone has been very pleased with the growing support for its technology by the U.S. Government,” said Darren Jamison, President and CEO. “We will continue to engage with our government leaders to promote policies that lead to a clean environment, a strong national economy, and a growing market for our business.”

This press release is pushing the stock up about 15% in premarket, but I’m a bit skeptical that it can hold.  Technically, the stock is a bit broken now but can get back in bullish mode with a successful close above .81 today.  It’s trading at .84 right now.

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