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Why Fermi Crashed Today

TheMotleyFool

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Why Fermi Crashed TodayPhoto, wide shot, wide-angle lens, Software company, sunset photo at golden hour, photo by Marc Adamus: https://img.theapi.app/temp/9d624ad0-0157-4808-b12c-caf136345180.png

Shares of newly public power and AI infrastructure company Fermi (NASDAQ: FRMI) plunged 19% on Monday as of 1:49 p.m. EDT.

Fermi has gotten off to a very rocky start since going public last Oct. 1, hitting the public markets at $21 per share. After today's decline, Fermi's stock now trades at $5.30.

Yesterday, Fermi announced a spate of leadership changes, including the resignation of its Chief Financial Officer and Chief Executive Officer, though both officers will remain on the Board of Directors. Even with these departures, Fermi disclosed that neither position has been filled on a permanent basis.

Source Fool.com

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