Bloom Energy Corp shares rallied roughly 5.8% in pre-open trading after management publicly rejected allegations made in a short-seller note released the day before by Hunterbrook Media LLC, an outlet that disclosed it may hold positions that would profit if the stock fell.
In a formal statement, Bloom Energy labeled the report's assertions about its financial performance and accounting practices as "false and misleading," and directed investors to its most recent regulatory filings as evidence of its reporting integrity.
The dispute centers on scandium oxide, a rare material used in Bloom Energy's solid oxide fuel cell technology. Hunterbrook alleged the company was concealing a reliance on Chinese scandium suppliers, a claim that would be inconsistent with statements the company's CEO, K.R. Sridhar, has made since early 2025 that the firm does not rely on China for its supply chain.
Bloom Energy pushed back, asserting it has sufficient scandium oxide to satisfy current fuel cell demand and its existing backlog. The company also stated it does not depend on China to scale supply to meet future growth in demand.
Adding to the company response, Mizuho reiterated its Neutral rating and maintained a $285.00 price target on the stock. The firm characterized the prior session's selloff as excessive and said the short report failed to account for Bloom's key competitive strength - the ability to rapidly deliver on-site power to customers operating AI data centers.
Market context also influenced the stock's recovery. U.S. equities finished mixed on Wednesday after a sharp escalation in U.S.-Iran hostilities pushed crude oil prices notably higher. The Dow Jones Industrial Average declined 1.1% to 52,348.39, the S&P 500 slipped 0.3% to 7,482.71, while the Nasdaq Composite gained 0.2% to 25,870.65, helped by strength in AI-related technology companies. In pre-market trading on Thursday, futures were broadly positive as investors refocused on AI infrastructure investments, creating a more constructive backdrop for Bloom Energy's rebound.
Taken together, Bloom Energy's prompt and unequivocal rebuttal removed the primary overhang that had driven the prior session's sharp decline. Mizuho's analyst support reinforced the view that the selloff was disproportionate, and renewed interest in the AI sector provided additional tailwinds. Those factors combined to attract strong pre-market buying interest and enabled the stock to recover a meaningful portion of the previous day's losses.
While the company emphasized its supply sufficiency and accounting transparency, the episode highlights how short-seller reports can precipitate rapid share-price movement and prompt close scrutiny from investors and analysts alike. The company's public rebuttal, paired with an analyst note underlining its AI-related delivery capabilities, helped to steady market sentiment in the pre-open session.