Bloom Energy reaching rarified R2 Growth air not seen since SMCI
Will the Bloom come off the Rossell? Bloom Energy (BE) is up 170% YTD with its R2 Growth index weight nearing 3%, something not seen since the “SMCI Effect” of early ’24. At $66B, Bloom’s market cap is higher than SMCI’s was in ’24 when it was tapped to join the S&P 500. SMCI’s S&P 500 inclusion marked the high for that stock whose outsized weight and gain wreaked havoc on manager relative performance in early ’24. Bloom is causing similar consternation today.