# FuelCell Energy (FCEL) — Axion Equity Dossier (the fourth rediscovery)

**Verdict.** **AVOID as core; rent the catalysts.** P(beats QQQ)=0.22 (historical rolling-year win rate vs QQQ: 9.9%); 2x-to-$42 0.40 vs halve 0.75, the most negative skew in coverage. The one new fact: 2026's rally was bought intraday (+287%) against a lifetime overnight-only pattern.

Full published report: https://fcel-dossier.us-east-1.gists.org