On July 9, Bloom Energy rose 3.43% in pre-market trading, trading at approximately 263.8 USD/share, with turnover of $9.15 million. The rebound follows a sharp intraday selloff triggered by a short-seller report from Hunterbrook earlier in the session.
During regular trading, Hunterbrook published a report questioning whether Bloom Energy's 5 GW capacity expansion would require approximately 220 tons of scandium oxide, nearly matching the global annual supply of 240 tons. The report also raised concerns about revenue growth rates and permitting progress for the company's core Oracle project. The stock fell as much as 12% intraday before closing down 5.67%.
The pre-market recovery represents a technical bounce following the steep decline. Fundamental support remains intact, as Bloom Energy recently expanded its AI power infrastructure partnership with Brookfield Asset Management to $25 billion, a fivefold increase from the prior $5 billion framework, reinforcing the company's position as a key on-site power provider for AI data centers.
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