Bloom Energy Fires Back at Short-Seller, Defends Scandium Supply and Accounting
BE has more than doubled off its 52-week low of $23.94.
Summary
Bloom Energy issued a detailed rebuttal to a Hunterbrook Media short-seller report that questioned its accounting and scandium oxide supply chain. The company called the allegations false and misleading, affirmed the integrity of its audited financials, and stated it has sufficient scandium supply for current demand and backlog. It also claimed independence from Chinese scandium sources and visibility to support 25GW of annual fuel cell production. This follows a series of positive developments including a major Oracle partnership and upwardly revised guidance. The rebuttal aims to neutralize a direct attack on the company's credibility and supply chain narrative, which could otherwise weigh on the stock given its high-growth, high-multiple profile.
At the time of this announcement, BE was trading at $269.04 on NYSE in the Energy & Transportation sector, with a market capitalization of approximately $72.3B. The 52-week trading range was $23.94 to $351.28. This news item was assessed with neutral market sentiment and an importance score of 8 out of 10. Source: Wiseek News.