Bloom Energy Shares Plunge on Analyst Downgrade

Bloom Energy’s stock experienced a significant sell-off following a stark rating cut from investment bank Jefferies. The downgrade triggered a wave of selling that erased a double-digit percentage from the share price.

The immediate market response was severe. During the trading session, Bloom Energy’s share price plummeted by 10.8 percent. This sharp decline was accompanied by a massive surge in trading activity, underscoring the negative sentiment. More than 33 million shares changed hands, a figure that represents a staggering 308 percent increase over the stock’s average daily volume of approximately 8.1 million shares.

Valuation Concerns Spark Downgrade

The catalyst for the downturn was Jefferies’ decision to lower its rating on the stock from “Hold” to “Underperform.” The bank’s... Read more...