Why Bloom Energy Had a Terrible Week
Bloom Energy(BE) The Motley Fool·2024-02-23 22:16Shares of hydrogen fuel cell company Bloom Energy (BE -0.23%) fell as much as 14.9% in trading this week and ended down 13.2% from last Friday's close, according to data provided by S&P Global Market Intelligence. Renewable energy stocks are selling off overall, but Bloom Energy's problems are related to a disappointing earnings report.From bad to worseRevenue dropped 22.8% in the fourth quarter to $356.9 million, and non-GAAP gross margin dropped 300 basis points to 27.4%. Non-GAAP operating profit fell fr ...