Movement Alert|Bloom Energy Corp Intraday Decline 3.02%, Profit-Taking After 14% Surge as Short Report Overhang Persists

Market Focus
Jul 23

On July 23, Bloom Energy Corp fell 3.02% in regular trading, trading at approximately $219.32 per share, with turnover of $1.812 billion. The stock continued to retreat following a single-day rally of over 14% in the prior session, as short-term profit-taking pressure intensified.

The decline reflects lingering concerns from a short seller report by Hunterbrook, which alleged that the company's 5GW annual production capacity would require approximately 220 tons of scandium oxide — close to total global annual supply of 240 tons. Although UBS maintained its buy rating with a $350 price target, arguing that scandium supply concerns are overstated, and RBC noted the short report relies on outdated reference materials while the company has reduced rare mineral dependency through patent-protected technology improvements, market skepticism regarding supply chain feasibility has not been fully resolved.

Additionally, with quarterly earnings scheduled for July 28 with an expected EPS of $0.23, wait-and-see sentiment is further suppressing price action as investors await clarity on operational execution amid the ongoing bull-bear debate.

(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.)

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