Why Bloom Energy Plunged Today Before Recovering
Shares of on-premises electricity generator provider Bloom Energy (NYSE: BE) plunged initially today, down 13% at one point, before recovering to a 1.4% decline as of 3:26 p.m. ET.
Bloom reported second-quarter earnings last night, beating revenue estimates but missing the mark on the adjusted (non-GAAP) earnings-per-share (EPS) line.
Of course, Bloom is a growth stock, so the top line matters more. However, since the stock had already had a massive run following recent deals with big data center and utility names, investors appeared to take profits on the less-than-absolutely perfect quarter. Management also merely "reaffirmed" 2025 guidance, without raising numbers.
Source Fool.com
