Energy Vault Holdings (NRGV) Plunged by Over 24% This Week. Here is Why

The share price of Energy Vault Holdings, Inc. (NYSE:NRGV) fell by 24.38% between February 11 and February 18, 2026, putting it among the Energy Stocks that Lost the Most This Week.

Energy Vault Holdings, Inc. (NYSE:NRGV) develops and deploys utility-scale energy storage solutions in the United States, Australia, and internationally.

Energy Vault Holdings, Inc. (NYSE:NRGV) plummeted on February 12 after the company announced a $140 million private offering of 5.250% convertible senior notes due 2031. The offering was upsized from the previously announced figure of $125 million. The initial conversion rate is 193.1807 shares of the company’s common stock per $1,000 principal amount of the notes, indicating a 27.5% premium to NRGV’s share price on February 11.

Energy Vault Holdings, Inc. (NYSE:NRGV) intends to use the proceeds to cover capped call costs, redeem $35 million-$45 million of existing YA II PN, Ltd. debentures, and for general corporate purposes like debt repayment and growth.

Following the recent downturn, the share price of Energy Vault Holdings, Inc. (NYSE:NRGV) has fallen by over 37% since the beginning of 2026.

While we acknowledge the potential of NRGV as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you’re looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.

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Disclosure: None.