La cotización de la FRMI de Fermi cae un 30%: la operación de energía impulsada por IA se desmorona mientras un arrendatario clave abandona un acuerdo de $150 millones

Summary
• Fermi (FRMI) slumps 30.03% intraday to $10.67, hitting a 52-week low of $8.30
• Turnover surges to 54.5M shares, with 23.79% of float traded
• Termination of a $150M construction funding agreement sparks sector-wide jitters
• Dynamic PE ratio plunges to -13.94, signaling deepening losses

The collapse of Fermi’s core funding deal has ignited a firestorm in the AI-energy sector, with shares cratering amid growing skepticism about the viability of speculative power projects. The stock’s freefall reflects a broader market reckoning with overhyped infrastructure bets, as investors reassess the risks of unproven AI-driven energy ventures.

AI Campus Developer Loses $150M Funding Lifeline
Fermi’s 30% intraday freefall stems from the termination of a critical $150M construction funding agreement with its first investment-grade tenant for Project Matador. The deal, which would have provided liquidity for the Texas AI campus, was scrapped as the tenant sought last-minute pricing concessions Fermi deemed unacceptable. This blow exacerbates doubts about the company’s ability to secure binding contracts in a sector already grappling with overbuilding fears. With no funds drawn under the agreement and negotiations with new tenants still nascent, the market has priced in a near-term existential threat to Fermi’s capital structure.

Electric Utilities Sector Mixed as Nextera Gains Ground
While Fermi’s collapse dominates headlines, the broader Electric Utilities sector shows divergence. Nextera Energy (NEE), the sector’s leader, rose 0.73% as policy tailwinds from the House-passed Electric Supply Chain Act and pipeline permitting reforms buoyed investor sentiment. However, Fermi’s plunge underscores the sector’s bifurcation: established utilities with regulated cash flows outperform speculative AI-power developers. The contrast highlights regulatory and demand risks for firms like Fermi, which lack revenue and rely on unproven long-term contracts.

Options and ETF Playbook: Navigating FRMI's Volatility with Strategic Contracts
• MACD: -2.06 (bearish divergence from signal line -2.43)
• RSI: 49.17 (oversold territory near 50)
• Bollinger Bands: 18.64 (upper), 15.99 (middle), 13.35 (lower) – price near 200D low
• 30D support/resistance: 15.21–15.49 (broken decisively)

Fermi’s technicals paint a dire picture: a short-term bearish trend confirmed by MACD divergence and RSI near oversold levels. The stock is trading near its 52-week low, with no immediate catalysts for reversal. For options traders, the FRMI20260116P10 put and FRMI20260220C10 call stand out. The put offers 5.63% leverage and 175.95% implied volatility, ideal for a 5% downside scenario (targeting $10.14). The call, with 4.45% leverage and 157.31% IV, balances bearish exposure with liquidity (733K turnover).

• FRMI20260116P10 (Put): Strike $10, Expiry 1/16/2026, IV 175.95% (extreme volatility), Delta -0.34 (moderate sensitivity), Theta -0.0238 (moderate time decay), Gamma 0.0622 (responsive to price swings), Turnover 98.9K. This contract thrives in a 5% drop to $10.14, yielding a 192.31% price change ratio.
• FRMI20260220C10 (Call): Strike $10, Expiry 2/20/2026, IV 157.31% (high volatility), Delta 0.65 (strong directional bias), Theta -0.0324 (aggressive time decay), Gamma 0.0699 (high sensitivity), Turnover 733K. This call benefits from a rebound above $10.75, with 4.45% leverage amplifying gains.

Aggressive bears should prioritize the January put for short-term volatility capture, while the February call offers a hedge against a potential bounce. Watch for a breakdown below $8.30 to trigger a liquidity crisis.

Backtest Fermi Stock Performance
Fermi Inc. (NASDAQ:FRMI) has experienced a significant decline in its stock price, with a notable intraday plunge of 30% in 2025, followed by a steady decrease from 2022 to the present day. Let's analyze the performance of Fermi after the 2025 intraday plunge:1. Impact of the 2025 Intraday Plunge: On December 3, 2025, Fermi's stock price dropped by 4.6%, trading as low as $14.30 and ending at $14.53. This decline was part of a broader trend, as the stock had already fallen by 47.55% over the past 30 days and 54.93% year-to-date.2. Post-Plunge Performance: After the 2025 intraday plunge, Fermi's stock continued to face downward pressure. As of the latest data, the stock price has not shown significant recovery. The decline in Fermi's stock price from 2022 to the present day reflects the market's reaction to various factors, including the company's financial performance, industry trends, and strategic developments.3. Investor Sentiment and Analysts' Views: Despite the significant pullback in the stock price, analysts have expressed a bullish outlook on Fermi, with some even suggesting that the current low prices present a "deeply discounted entry" into a next-generation grid leader. However, investor sentiment remains cautious, as reflected in the substantial decline in trading volume and the stock's trading well below analyst targets.4. Long-Term Prospects: Fermi's future prospects will depend on the company's ability to execute its strategic plans, including the development of advanced water-saving cooling technologies for its energy campus in West Texas. The company's mixed portfolio of nuclear, gas, renewables, and storage assets also adds complexity to its financial outlook, with cash flows expected to be back-weighted and volatile.In conclusion, Fermi's stock has experienced a significant and prolonged decline, with the 2025 intraday plunge being a notable event. While analysts remain optimistic about the company's long-term potential, investor sentiment is currently tempered by the recent stock price performance and the uncertainties associated with Fermi's business model and financials.

Act Now: FRMI's Freefall Presents High-Risk, High-Reward Opportunities
Fermi’s 30% collapse signals a near-term bottoming process, but the path forward remains perilous. With no revenue, a $19B valuation haircut, and a sector grappling with demand uncertainty, the stock is a high-risk proposition. However, the options chain offers asymmetric payoffs for traders willing to navigate the volatility. For context, Nextera Energy (NEE) rose 0.73% as policy-driven optimism lifted the sector. Investors should monitor the $8.30 intraday low for a potential floor and the $10.75 intraday high for a bounce signal. Watch for a breakdown below $8.30 or regulatory reaction to the House energy bills.