On September 4, Fervo Energy Co. rose 5.19% in regular trading, trading at $17.87/share, with turnover of $12.20 million. The rebound follows two consecutive sessions of profit-taking that saw the stock retreat over 12% from its recent peak.

The underlying catalyst remains the company's 396-megawatt power purchase agreement with Alphabet's Google, announced on September 1, which initially sent shares surging over 22% on trading volume of $665 million — more than eight times normal levels. Under the agreement, Google will purchase carbon-free electricity from Fervo's Cape Station enhanced geothermal project in Utah, slated to come online in 2028. Google also holds an option to expand offtake by approximately 600 megawatts by June 2030, bringing total potential capacity to nearly 1 gigawatt.

Fervo, which went public in May, had previously seen its stock decline over 40% from IPO levels. The current session's uptick appears consistent with a short-term oversold technical recovery following the sharp post-announcement pullback.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)