Bloom Energy is a Silicon Valley-based clean energy company that went public in July 2018, only two days before Pinduoduo (PD), Cango (CANG), Endava (DAVA) and Tenable (TENB) have gone public with their IPOs as well.
The year of 2018 was definitely busy with watching out for upcoming tech companies going public in search for a profitable investment, however, Bloom Energy might have been one of the most controversial IPOs of 2018 as the company is said to have paid millions to a couple of men that were accused of defrauding investors of Bloom Energy.
Beyond the foggy circumstances that followed the IPO, Bloom Energy went public at an estimated value of 1.6 billion dollars, having been approved for a listing on Nasdaq under the thicker (BE).
Bloom Energy (BE): How Profitable is Investing in Bloom Energy Shares in the Long Run?
Despite the controversy that surrounded Bloom Energy IPO, the Silicon Valley’s clean energy company still managed to raise 270 million dollars from the starting position of 15$ per share set before the first trading session.
In the course of a single day, BE shares surged from 15$ to 25$ and the shares touched the peak price of 35.80$ on 26th of September, however, the shares soon went following a downward path, currently trading in the red in Q2 of 2019 and below the value of its opening price.
Bloom Energy shares don’t seem to be doing well in the period of the last month of Q1 2019, having issues trading above 15$ per share since the beginning of March.
However, the company announced their financial report for 2018 back at the beginning of February 2019, announcing that Bloom Energy is recording 73.3% year to year growth for Q4 2018 revenues of 213.6 million dollars.
Additionally, Bloom Energy reported 97.4% year over year growth for full-year revenues during 2018, generating 742 million dollars.