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Bloom Energy shares dropped 4% to $229.83 in afternoon trading, marking a significant reversal in the stock's year-to-date performance.
The decline follows a period where the company’s shares surged 165%, driven by intense demand for onsite power solutions in artificial intelligence data centers.
The selloff extends to other power equipment manufacturers, though with less severity. Caterpillar stock slid 3% to $727.55, while Generac Holdings shares fell 1% to $195.67.
In contrast, broader market indicators remained stable.
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