Here's Why Bloom Energy Is Tumbling Today
Shares of Bloom Energy (NYSE: BE) fell as much as 26% today to push the company's market valuation below $400 million. That's a far cry from the more than $3 billion market cap shortly after its initial public offering (IPO) in 2018. But investors are increasingly pessimistic about the future of the solid oxide fuel cell developer.
Notably, Hindenburg Research earlier today published an article on Seeking Alpha arguing that Bloom Energy is destined to fail. According to the article, the company's $520 million in maturing debt in 2020 and 2021 makes it "an obvious bankruptcy candidate." Hindenburg Research is short the stock.
As of 11:55 a.m. EDT, the stock is down 23.2%.
Source Fool.com
