Bloom Energy Stock Sinks Despite Record Revenue and a Stellar Outlook. Is It Time to Buy?
Bloom Energy (NYSE:BE) delivered another blowout quarter, smashing estimates and growing profits faster than sales. Yet, its stock plunged after earnings and was down more than 12% as of Friday noon.
The company sells solid-oxide fuel cell servers that turn natural gas into electricity right at a customer’s site. Artificial intelligence (AI) data centers desperately need that because the existing grid needs years to build additional capacity.
Bloom Energy can bypass the grid and swiftly deliver clean, reliable, 24/7 power to hyperscalers and data center operators. It delivered a complete fuel-cell system to Oracle (NYSE:ORCL) in 55 days last year. The tech giant was so impressed that it expanded its partnership for up to 2.8 gigawatts (GW) earlier this year.
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