Bloom Energy (BE) Falls 9.4% as Investors Turn Pessimistic

We recently published 10 Stocks Already Hurting in December. Bloom Energy Corp. (NYSE:BE) is one of the top performers on Monday.

Bloom Energy dropped its share prices by 9.44 percent on Monday to end at $98.93 apiece, mirroring an overall market sentiment following a recent holiday rush.

Investors also unloaded portfolios while waiting on the sidelines for more leads to spark buying appetite.

In other recent news, Bloom Energy Corp. (NYSE:BE) reported a dismal earnings performance in the third quarter of the year, having widened its net loss attributable to shareholders by 56 percent to $23 million from $14.7 million year-on-year.

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Revenues, on the other hand, grew by 57 percent to $519 million from $330 million in the same period last year, on the back of a 55.7 percent jump in product and service revenues during the same period.

Despite the mixed results, Bloom Energy Corporation (NYSE:BE) remained optimistic about its business outlook amid “powerful tailwinds” including the surging demand for electricity driven by AI and nation-state priorities, among others.

Earlier, Bloom Energy Corp. (NYSE:BE) successfully raised $2.2 billion in fresh funds from the issuance of convertible senior notes due 2030, proceeds of which will be used for manufacturing expansion, research and development, and other general corporate purposes. The notes will mature on November 15, 2030, unless earlier repurchased, redeemed or converted.

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Disclosure: None. This article is originally published at Insider Monkey.