We recently published 10 Stocks With Massive Losses; AI Stocks Not Spared. Fermi Inc. is one of the worst performers on Monday.
Fermi Inc. saw its share prices decline by 5.96 percent on Monday to close at $25.39 apiece as investor sentiment was dampened by concerns for energy stocks tied to the AI bubble.
An opinion piece on the Wall Street Journal noted: “For all the fears about stretched technology shares, many of those companies are hugely profitable ones that will keep chugging along even if the artificial-intelligence boom doesn’t have legs. Not so in the energy sector.”
It said that a group of non-revenue-generating energy companies has collectively ballooned to more than $45 billion “in hopes that tech companies will one day pay for their yet-to-be-built power.”
Photo by Michael Dziedzic on Unsplash
For its part, Fermi Inc. (NASDQ:FRMI) is a newly listed energy company that debuted only on the stock market last October 1, cashing in on the AI frenzy.
During its initial public offering, Fermi Inc. (NASDQ:FRMI) was able to raise $682 million in fresh funds covering 32.5 million shares at a price of $21 apiece.
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This article is originally published at Insider Monkey.
