Company Performance - Fermi Inc. (NASDAQ:FRMI) experienced a significant decline in share prices, dropping by 8.94 percent to close at $9.22 amid overall market pessimism due to ongoing trade tensions between the United States and the European Union [1] - Despite receiving a "buy" recommendation and a price target of $23 from Texas Capital Securities, which indicates a 149 percent upside potential from its latest closing price, Fermi's share prices did not rise [4] Market Context - The decline in Fermi's stock was influenced by President Donald Trump's threats to impose 10 percent tariffs on eight countries opposing his proposed takeover of Greenland, with the potential increase to 25 percent if no agreement is reached [2] - The European Union announced plans to retaliate with $108 billion in taxes on American goods, contributing to a negative sentiment in global markets, particularly affecting Wall Street's main indices, which all finished lower, with the Nasdaq down 2.39 percent [3] Strategic Positioning - Texas Capital Securities expressed optimism regarding Fermi's Project Matador, which is described as the world's largest hybrid energy and data center campus, suggesting that it allows hyperscalers to bypass long interconnection queues and achieve high reliability standards [5]
Fermi (FRMI) Sheds 8.9% on US-Europe Trade Tensions