Bloom Energy Shares Sink 8% on Profit-Taking as 76ers Jersey Patch Deal Announced

Bloom Energy shares fell 8% on Monday to around $253, unwinding part of a steep year-to-date rally as investors booked gains across the fuel cell sector. The selloff extended to peers, with Plug Power dropping 6% and FuelCell Energy also easing. Rising Treasury yields were cited as an additional headwind, pressuring both project economics and equity valuations for clean-energy growth stocks.

Despite the decline, Bloom Energy had been among the top-performing industrial stocks in September, leading the sector alongside Vicor. The company reported second-quarter revenue of $1.065 billion and raised its full-year 2026 revenue guidance to a range of $3.9 billion to $4.2 billion, reflecting strong demand for onsite power from data centers.

Separately, Bloom Energy announced a jersey patch sponsorship deal with the Philadelphia 76ers, described as the second most valuable jersey patch deal in NBA history. CEO and founder KR Sridhar called it a groundbreaking opportunity, pointing to the team's elevated national profile following the arrival of LeBron James and Jaylen Brown. The 76ers are set to have a record 34 games nationally televised in the 2026-27 season, giving Bloom Energy significant brand exposure across the country.