Published: Thursday, November 13, 2025
Summary: Bloom Energy shares fell sharply today during a broader market sell‑off in AI‑linked names. At the same time, Tradr launched the first leveraged ETF tied to BE, while fresh coverage and industry reporting continued to spotlight Bloom’s solid‑oxide fuel cells as a fast, modular answer to data‑center power constraints.
BE stock today: sharp drop amid risk‑off tape
Bloom Energy (NYSE: BE) traded lower throughout Thursday. As of 20:53 UTC, shares were $104.14, down about 17.8% on the day, after ranging between $98.42 and $128.55 intraday (open $124.00; data intraday). Broader weakness in AI‑adjacent stocks and rate‑cut uncertainty weighed on U.S. indices, with the S&P 500 and Nasdaq both sliding. [1]
Commentary during the session noted the absence of a new company‑specific negative catalyst and framed the drop as part of a wider risk‑off move following a major run‑up in 2025. [2]
New catalyst: Tradr launches 2× Long BE Daily ETF (BEX)
A notable development today was the debut of a single‑stock leveraged fund tied to Bloom Energy: the Tradr 2× Long BE Daily ETF (ticker: BEX) on Cboe. The fund seeks 200% of BE’s daily return; Tradr listed an expense ratio of 1.30% and highlighted an inception around this week. Leveraged vehicles can increase intraday volatility in the underlying, particularly around rebalancing. [3]
Still in the AI‑power conversation
Despite today’s slide, Bloomberg, Barron’s, and others have continued to frame Bloom as a beneficiary of surging power demand from AI data centers—demand that favors fast‑deploy, onsite power solutions that can be added without waiting years for new grid connections. Barron’s piece published today again grouped Bloom with companies able to deliver power quickly to hyperscale campuses. [4]
Zacks, in a mid‑day analysis carried by Nasdaq, reiterated the bull case that Bloom’s solid‑oxide fuel cells provide efficient, low‑emission electricity from natural gas, biogas, or hydrogen and are increasingly being scoped for AI workloads that penalize downtime. [5]
Financing and dilution watch: the 0% converts and note exchanges
Recent capital‑structure moves remain central to the story. On November 4, 2025, Bloom issued $2.5 billion of 0% Convertible Senior Notes due 2030 (including the full exercise of the option by initial purchasers). The 8‑K sets an initial conversion price of about $194.97 per share and describes concurrent exchanges of earlier 2028/2029 green converts for cash plus stock, including 24.3 million and 18.1 million new Class A shares, respectively—details that inform dilution modeling and trading dynamics around the name. [6]
Fundamentals check: Q3 2025 at a glance
Bloom’s October 28 release reported Q3 revenue of $519.0 million, up 57.1% year over year, with GAAP gross margin at 29.2% (non‑GAAP 30.4%) and an improvement to operating income versus a year‑ago operating loss. Management also flagged the $5 billion strategic AI‑infrastructure partnership with Brookfield announced in October, positioning Bloom as a preferred onsite power supplier for planned “AI factories.” [7]
Separately, industry trade coverage noted Bloom’s plan to scale to ~2 GW annual production capacity by late 2026, underscoring manufacturing expansion tied to AI‑data‑center demand. [8]
Market context: today’s risk‑off backdrop
Thursday’s sell‑off hit high‑beta technology and AI‑themed names broadly as investors reassessed valuations and the near‑term interest‑rate path. That macro pressure likely amplified swings in recently high‑flying stocks such as BE. [9]
Why today matters for BE investors and watchers
- Liquidity & leverage: The BEX launch adds a new lever for traders that can intensify intraday moves. Monitoring flows and rebalancing windows becomes more important around catalysts. [10]
- Capital structure digest: The $2.5B convert and concurrent exchanges increased cash flexibility, refinanced costlier paper, and introduced potential dilution—factors that can jolt sentiment, especially after a major year‑to‑date rally. [11]
- Structural demand story intact: Major media and sell‑side coverage continue to cite AI power constraints and the need for rapid, modular, lower‑emission onsite power—precisely the niche Bloom targets. [12]
Key numbers & status as of November 13, 2025
- Price action: $104.14 late session (−~17.8% vs. prior close); intraday low $98.42 / high $128.55; open $124.00.
- YTD: BE has climbed over 300% in 2025; Yahoo Finance shows ~364% year‑to‑date return as of today’s update. [13]
What to watch next
- ETF positioning & volumes: How BEX trades, its daily rebalance effects, and whether options list on the fund. [14]
- AI‑data‑center deployments: Follow‑through on the Brookfield partnership and customer‑named wins (e.g., OCI/Oracle), which underpin the AI power thesis for 2026‑2027. [15]
- Financing housekeeping: Any additional updates related to note exchanges, settlement mechanics, and eventual conversion behavior tied to the 2030 converts. [16]
- Macro & rates: Market sensitivity to Fed commentary and AI‑valuation debates that can overshadow stock‑specific progress day to day. [17]
Editorial note on sources from Nov. 13, 2025
- Session move / “no new bad news” framing: The Motley Fool via Yahoo Finance. [18]
- Leveraged ETF launch: PR Newswire (via Yahoo Finance) and Tradr’s fund page. [19]
- AI‑power industry lens (today): Barron’s. [20]
- Mid‑day positive take: Zacks analysis syndicated on Nasdaq. [21]
- Q3 fundamentals (company IR): Press release and Brookfield partnership announcement. [22]
- Capital‑structure specifics: Bloom’s Nov. 4 8‑K. [23]
- Macro tape: AP News market wrap. [24]
This article is for informational purposes only and does not constitute investment advice. All figures are as of November 13, 2025, and may change with market conditions.
References
1. apnews.com, 2. finance.yahoo.com, 3. www.prnewswire.com, 4. www.barrons.com, 5. www.nasdaq.com, 6. www.sec.gov, 7. investor.bloomenergy.com, 8. www.utilitydive.com, 9. apnews.com, 10. www.prnewswire.com, 11. www.sec.gov, 12. www.barrons.com, 13. finance.yahoo.com, 14. www.prnewswire.com, 15. investor.bloomenergy.com, 16. www.sec.gov, 17. apnews.com, 18. finance.yahoo.com, 19. finance.yahoo.com, 20. www.barrons.com, 21. www.nasdaq.com, 22. investor.bloomenergy.com, 23. www.sec.gov, 24. apnews.com
