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Fermi stock drops sharply after CEO and CFO departures
U.S. power startup Fermi's shares plummeted 23% after CEO Toby Neugebauer and CFO Miles Everson abruptly departed. Short seller Fuzzy Panda Research alleged fraudulent transfers by Neugebauer and other executives. Despite leadership changes, the company reiterated its operational plan for "Project Matador," an AI-focused electricity generation site.
U.S. power startup Fermi's shares plummeted 23% after CEO Toby Neugebauer and CFO Miles Everson abruptly departed. Short seller Fuzzy Panda Research alleged fraudulent transfers by Neugebauer and other executives. Despite leadership changes, the company reiterated its operational plan for "Project Matador," an AI-focused electricity generation site.
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