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How Meme Rallies Keep Zombie Companies Alive

Wall Street Millennial | July 9, 2026



Check out our second channel Broken Business Models: https://www.youtube.com/@UCQUOscigSQWCVG8m-ZC8wiw

In this case we look at the bizarre story of FuelCell Energy.

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#wallstreetmillennial

0:00 – 1:49 Intro
1:50 – 3:14 What Is A Fuel Cell?
3:15 – 6:55 South Korea
6:56 – 9:52 Hydrogen Meme Rally
9:53 Data Center Narrative

Written by Wall Street Millennial

Comments

This post currently has 42 comments.

  1. @perfectallycromulent

    July 9, 2026 at 2:20 pm

    Technically speaking, if what you're dealing with is still alive, it is not a zombie. You will be charged with murder if you kill it. Wait until it does die and rises again, undead, before you put sharp objects in its head.

  2. @nathangoshawk

    July 9, 2026 at 2:20 pm

    Zombie company, dead-end product, almost $2billion spent, no detectable operating profit, negligible share price boosted by dumb speculation, etc. etc.
    What goes through my mind is, what has been the total remuneration of the top management over the life of this turkey of a company?

  3. @trumpetbob15

    July 9, 2026 at 2:20 pm

    Okay, I'm confused. So POSCO stopped buying from them cause the product was garbage but still wouldn't let their competitors buy? Why? Sounds like you'd WANT to let your competitors lose money just as you have.

  4. @neeneko

    July 9, 2026 at 2:20 pm

    Heh. This got me wondering how BlackLight Power is doing. Somehow still alive it appears, though I do not think they ever went public so no idea how they are keeping afloat.

  5. @glamcitybribri

    July 9, 2026 at 2:20 pm

    Those of us who have spent our entire lives with the knowledge that we will never have money to waste on nonsense like this means that we laugh when the investor class loses its ass on nonsense like this

  6. @nr12345

    July 9, 2026 at 2:20 pm

    Damn, I need to start a business and run at a loss for over 30 years and by some magic not actually go broke. WTF kinda economy is that. lol

  7. @domtweed7323

    July 9, 2026 at 2:20 pm

    Fuel cells sort of do make sense for AI. They essentually manufacture a really rubbish natural gas power station, and right now there's a massive shortage of proper gas turbines, so there's a real market.

  8. @MicrophonicFool

    July 9, 2026 at 2:20 pm

    No matter how you slice it currently: "MegaWatts of Fuel Cells" isnt currently a profitable thing, and might never be a thing in the form-factor they are hustling. Very Large scale liquid-metal batteries for grid-storage, designed upon a reverse aluminum smelter where thousands of amps need be absorbed or shed suddenly with no ill-effect on the chemistry are a different beast. These smaller-scale "Your car can run your house" gigs are somewhat more realistic but the cons do not become fully apparent until the real world gets involved. Also, Murphy himself who truly loves just to troll the rest of the program.

  9. @bevolkisch4628

    July 9, 2026 at 2:20 pm

    That is because 401k investors just buy whatever the company financial advisor suggests so if they get a bigger commission they will suggest these nonsense companies' stock and that is how the investment scam keeps going on and on. Investing only works for insiders.

  10. @royalal

    July 9, 2026 at 2:20 pm

    I worked for FCEL as a new graduate for several years. They had never turned a profit in its history and had a toxic workplace environment and company culture. I often found my boss sleeping at his desk, and people were always looking to say something behind your back. I cannot believe it is still surviving on the back of additional rounds of diluted stock.

    Also, they cannot use pure methane, but rather natural gas which has so many sulfur contaminants which ruin the catalyst (nickel). If you have any questions let me know. That place was horrible to work at.

  11. @evanmcdonnal

    July 9, 2026 at 2:20 pm

    What really doesn’t make sense is the choice to trade stocks like this at all. If you want to do a pure greater fool trade crypto is clearly asset class for you. Kids these days are so dumb they don’t even know how to do greater fool investing correctly.

  12. @angrycrypto465

    July 9, 2026 at 2:20 pm

    These are just money laundering operations, allowed to drain the money, because they are white. Once you realize that, then you realize why most of them never go to jail, and why most just pay a small fine.

  13. @reed_reed

    July 9, 2026 at 2:20 pm

    Musk needs to find that cool leather trenchcoat he was photographed in when he was younger so he can look as cool as Jensen Huang and that other guy.

  14. @cpm1003

    July 9, 2026 at 2:20 pm

    I never understood the appeal of fuel cells. We already had the technology to turn fuel and air into electricity. They might make sense on spacecraft, but they do nothing better here on Earth.

  15. @Karlengler1

    July 9, 2026 at 2:20 pm

    Wow, Posco’s corporate sign looks shabby, not a good indicator if they won’t spend money to make the physical appearance look good 😬

  16. @amartinjoe

    July 9, 2026 at 2:20 pm

    i bought close to $100 worth of FuelCell stock back in 2019 – I checked just recently, it's not in my portfolio anymore – turns out, I was given $ 1.40 back from FuelCell sometime in 2024. I have no idea how that happened.

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