Why Bloom Energy Stock Dropped on Tuesday
Bloom Energy (NYSE: BE) delivered a powerful earnings report last week, but that good news isn't helping this hydrogen fuel cell company Tuesday. Reports of a big "block trade" -- a large shareholder selling 3 million shares of Bloom all at once -- have investors spooked.After dropping by more than 13% in morning trading, as of 12:20 p.m. ET, Bloom Energy stock was down by about 5%.Bloom Energy beat analysts' forecasts for Q4 with a stick on Thursday, reporting adjusted profits of $0.43 per share where analysts foresaw only $0.31, and revenue of $572.4 million, which was much more than forecast. (GAAP profits also rose impressively to $0.38 per share versus just $0.02 in the prior-year period.) Continue reading
Bloom Energy (NYSE: BE) delivered a powerful earnings report last week, but that good news isn't helping this hydrogen fuel cell company Tuesday. Reports of a big "block trade" -- a large shareholder selling 3 million shares of Bloom all at once -- have investors spooked.
After dropping by more than 13% in morning trading, as of 12:20 p.m. ET, Bloom Energy stock was down by about 5%.
Bloom Energy beat analysts' forecasts for Q4 with a stick on Thursday, reporting adjusted profits of $0.43 per share where analysts foresaw only $0.31, and revenue of $572.4 million, which was much more than forecast. (GAAP profits also rose impressively to $0.38 per share versus just $0.02 in the prior-year period.)
