Fermi Inc. (FRMI) Stock News Today: $150M Funding Deal Terminated, Project Matador Updates, and Analyst Price Targets (Dec. 14, 2025)
Fermi Inc. shares plunged 34% Friday after its first prospective tenant terminated a $150 million construction funding agreement for Project Matador in West Texas. The company disclosed no funds had been drawn and lease talks continue, but the stock saw record volatility and heavy volume. FRMI closed around $10.09, down sharply from post-IPO highs. Fermi remains pre-revenue and is seeking new tenants for 2026.