On May 21, Fervo Energy rose 5.21% in regular trading, trading at $40.0/share, with trading volume of $8.51 million. The stock continued its technical rebound following a period of profit-taking that had weighed on shares in prior sessions.

Fervo Energy debuted on Nasdaq on May 13 at an IPO price of $27/share, raising $1.89 billion. The stock surged over 35% on its first day and accumulated gains exceeding 50% from the offering price before short-term profit-taking triggered a roughly 5.55% pullback. The shares subsequently rebounded 7.1% in after-hours trading and have continued their recovery trajectory in following sessions.

The geothermal energy developer, backed by Bill Gates' Breakthrough Energy Ventures, is deploying enhanced geothermal systems using horizontal drilling technology. The company has secured 658 MW of binding power purchase agreements and signed a 3 GW framework agreement with Google for data center power supply. Its flagship 500 MW commercial power station is expected to begin grid-connected generation before year-end, amid surging AI data center electricity demand.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)