Company Overview - Fermi Inc. (NASDAQ:FRMI) recently debuted on the stock market, offering 32.5 million shares at an IPO price of $21, raising up to $682 million [2] - The company is focused on developing next-generation electric grids that provide highly redundant power at a gigawatt scale, essential for advancing artificial intelligence technologies [4] Stock Performance - Fermi's stock has experienced a decline, losing 7.87% on Monday, marking the third consecutive day of losses, as investors took profits despite a 25% upside potential [1] - The stock closed at $26.35 per share following the recent downturn [1] Management Changes - Fermi Inc. has entered into a three-year employment agreement with Toby Neugebauer as the CEO, which includes automatic one-year renewals unless terminated earlier [3] - Neugebauer's annual base salary is set at $500,000 [4]
Fermi (FRMI) Nosedives on Profit-Taking on Double-Digit Upside Potential