Fervo Energy is trading 5.2% down at $23.30 as the stock consolidates following a sharp multi-day pullback from its July 9 surge.
- Shares previously jumped 16.04% after the company reported record drilling speeds and improved project economics at its Cape Station geothermal project.
- The current decline reflects broader weakness across energy names following data showing lower fuel prices, with no new company-specific news reported since the operational update.