Shares of Bloom Energy (BE) fell 3.5% to $203.46 during morning trading on Monday, retreating from an opening price of $209.01 and approaching the session low of $203.38.
The decline comes as a securities class action lawsuit against the company advances, with law firm Kaplan Fox & Kilsheimer calling for investors to take a lead role in the case. The legal deadline for potential claimants is set for September 28, 2026. The lawsuit originated from a short-seller report published on July 8, which alleged Bloom Energy had sourced scandium—a critical rare earth metal for its solid oxide fuel cells—through Chinese intermediaries in violation of its public disclosures.
A separate analyst note highlighted supply chain exposure, revealing that approximately 30% of South Korean supplier Sanil Electric’s new orders in Q2 2026 were tied to Bloom Energy. These orders involved special step-up transformers for local power generation systems.
The broader market downturn compounded Bloom Energy’s losses, as U.S. equities slipped following weekend military exchanges between the United States and Iran. Geopolitical tensions drove crude oil prices higher, contributing to a risk-off session. The S&P 500 fell 0.5%, the Dow Jones Industrial Average declined 0.6%, and the Nasdaq Composite dropped 0.4%. Energy technology and artificial intelligence infrastructure stocks were among the most affected.
Bloom Energy’s 52-week high stands at $351.28, underscoring the magnitude of its recent decline.
