Bloom Energy shares fell more than 12% on Friday, June 26. The sell-off followed a period of explosive growth where the stock surged over 1,300% in the past year. Investors engaged in significant profit-taking after the stock hit a 52-week high the previous day.
The decline coincided with a rally for rival FuelCell Energy. FuelCell shares jumped after the company announced a major new power agreement for data centers. This deal prompted a capital rotation away from Bloom Energy amid concerns over stretched valuations in the AI-related energy sector.
The drop occurred despite Bloom Energy reporting 130% year-over-year revenue growth in the first quarter of 2026. The stock remains highly volatile following its recent parabolic run.