NEW YORK, June 25, 2026, 17:04 (EDT)
- Bloom Energy dropped 5.2% after seeing a $52.83 intraday range.
- FTSE Russell rebalances after the U.S. close on Friday, pushing Bloom out of the Russell 2000 and into bigger-cap indexes.
- The stock remains above a new Barclays target, trading around 24x the midpoint of Bloom’s 2026 revenue guide using its March basic share count.
Bloom Energy Corporation NYSE:BE slumped sharply late Thursday, and the move was about more than just a single session. The fuel-cell stock will exit the small-cap ranks and join the Russell Top 200, so investors tracking the index have to handle BE as a large-cap now. Bloom was one of the fastest movers in the AI power group.
Bloom changed hands last at $309.18 as of 4:48 p.m. EDT, off $17.11, or 5.2%. Shares ranged from $350.88 to $298.05 on the day, a swing of $52.83, about 16% of the previous close. Trading volume was 13.1 million shares.
Bloom’s 284.2 million Class A shares, reported as issued and outstanding on March 31, meant Thursday’s price range shifted around $15.0 billion in equity value during the session. At the last trade, that same share count valued Bloom near $87.9 billion—above FTSE Russell’s $62.1 billion cutoff for the Russell Top 200, but still below the $120.0 billion median.
Bloom is catching investor attention, and it’s not only about AI data-center power trades. The stock is moving through key benchmarks at a size that puts it on the radar for passive funds, active risk managers and Friday’s closing auction—those can sway things as much as fresh company headlines.
FTSE Russell said the reconstituted Russell U.S. indexes will take effect after the market closes on June 26. Reuters reported Bloom is set to join the Russell 200 megacap index, moving up from the Russell 2000, after the stock surged more than 1,000% over the past year thanks to deals to provide power for AI data centers.
Big trades are expected Friday. Reuters reported almost $150 billion in reconstitution-day turnover. Stephens analyst Melissa Roberts called it a “key liquidity day.” Steven DeSanctis at Jefferies said it might spark a “really massive trade.” Reuters
Scale is the reason. T. Rowe Price Group NASDAQ:TROW reported that as of June 30, 2025, about $12.2 trillion in assets were tied to Russell U.S. indexes. Reconstitution can shift portfolio weights and passive flows. T. Rowe’s analysis showed that stocks linked to AI infrastructure, such as distributed power generation, are moving into large- and mid-cap growth benchmarks.
Bloom’s recent results help explain the stock’s move. The company posted $751.1 million in first-quarter revenue in April, up 130.4% year over year. Product revenue shot up 208.4% to $653.3 million. Bloom boosted its 2026 revenue outlook to a range of $3.4 billion to $3.8 billion and raised its non-GAAP EPS forecast to $1.85 to $2.25.
That points to the valuation risk. Using the March Class A share count and Thursday’s close, Bloom was at roughly 24x the midpoint of its 2026 revenue target. At the session high, that metric pushed up to nearly 28x.
Barclays PLC LON:BARC bumped its Bloom target up to $276 from $254 this week, sticking with an equal-weight call, StockAnalysis.com said, citing The Fly. Sell-side targets have lagged as the stock moved higher. Even with Thursday’s drop, Bloom finished about 12% above Barclays’ new target.
Speed and power limits are still core to the company’s story. On Bloom’s April earnings call, founder and CEO K.R. Sridhar said customers want on-site power “deployed at the speed of AI.” He pointed to Oracle Corp NYSE:ORCL and its Project Jupiter in New Mexico as an example. The Motley Fool
Thursday’s drop didn’t match moves in other names. Invesco QQQ Trust NASDAQ:QQQ added 0.7%. iShares Global Clean Energy ETF NASDAQ:ICLN slipped 1.0%. Bloom fell harder than either.
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