Here's Why Bloom Energy Stock Is Nosediving Today

Bloom Energy Corp BE shares are trading lower by 10.5% to $27.17 Tuesday morning after the company announced the commencement of a public offering of 13 million shares.

What Else?

Bloom Energy says the company intends to use the net proceeds from this offering for general corporate purposes, including research and development and sales and marketing activities, general and administrative matters and capital expenditures and which may include the repayment of some or all of our outstanding indebtedness.

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According to data from Benzinga Pro, Bloom Energy has a 52-week high of $37.01 and a 52-week low of $11.47.