Why Bloom Energy Stock Keeps Going Down
By now you've probably heard the bad news about Bloom Energy (NYSE: BE). On Thursday, the hydrogen fuel cell pioneer announced a big revenue miss and a 23% decline in revenue year over year for its fiscal fourth quarter of 2023. The CFO announced he's leaving the company, and investors seemed inclined to do likewise, selling off Bloom stock by 17.5%.
On Tuesday, the selling continued, with Bloom stock losing a further 9.1% through 3:05 p.m. ET -- and Bank of America may be the reason.
Friday, as you can imagine, wasn't a lot of fun for Bloom Energy investors, as their stock sold off after earnings. Earnings came out Thursday evening, and Friday morning was mostly dominated by news of various analysts cutting price targets and downgrading the stock -- hence the falling stock price.
Source Fool.com
