Bloom Energy (BE) Declines 7.3% on One Big Beautiful Bill Senate Passage

Bloom Energy Corporation (NYSE:BE) is one of 10 Stocks that Fell Off the Cliff.

Bloom Energy declined by 7.48 percent on Tuesday to close at $22.13 apiece as investor sentiment was dampened by the passage of the One Big Beautiful Bill Act in the Senate that included provisions to end tax credits for clean energy.

In the passed Senate version, 45V clean hydrogen tax credits will expire on January 1, 2028, as opposed to the original 2032 in the Inflation Reduction Act.

Investors took the news in a negative light and repositioned portfolios ahead of the bill’s July 4 deadline.

In the first quarter of the year, Bloom Energy Corporation (NYSE:BE) narrowed its net loss by 58.6 percent to $23.8 million from $57.5 million in the same period last year.

Revenues increased by 38.7 percent to $326 million from $235 million year-on-year.

For the full year, Bloom Energy Corporation (NYSE:BE) expects revenues to settle between $1.65 billion and $1.85 billion.

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Disclosure: None. This article is originally published at Insider Monkey.