It's no secret that clean energy technology specialist FuelCell Energy Inc (NASDAQ:FCEL) has thoroughly struggled this year, with FCEL stock hemorrhaging about 77% of market value since the beginning of January. On paper, the underlying company's business of developing and delivering fuel cell systems — which convert hydrogen into electricity — is highly relevant. Unfortunately, declining revenue from prior years contributed to investor sentiment erosion.

In mid-November, management announced a global restructuring effort to reduce costs and focus on core technologies, part of an overall response to slower-than-expected clean energy investments. Within the plan, FuelCell stated that...