On September 2, Fervo Energy Co. fell 7.54% in regular trading, trading at $18.19/share, with turnover of approximately $24.60 million. The decline reflects profit-taking pressure following the previous session's 22.66% surge driven by a landmark geothermal power purchase agreement with Google.

On September 1, Fervo Energy announced a 396-megawatt power purchase agreement with Alphabet's Google for its Cape Station geothermal project in Utah, slated to come online in 2028 to power a potential Google data center. The agreement also includes an option for Google to expand its offtake by approximately 600 megawatts, bringing total capacity to nearly 1 gigawatt by June 2030. Financial terms were not disclosed. The news triggered a massive rally, with trading volume surging to $665 million — more than eight times normal levels.

Since its IPO in May, Fervo Energy's stock had previously declined over 40%, and the sharp rebound on elevated volume has created significant short-term profit-taking pressure, making the current technical pullback a natural correction following the outsized prior-session gain.

(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.)