Fermi Energy Slides 9% as Q2 Earnings Reaction Deepens

The selling pressure following Fermi's Q2 earnings report is not letting up, with shares down to $6.92 and the resistance level traders watched all morning now gone.

The $6.90 area is now the critical floor to hold. A close below that level would signal that buyers have fully stepped back and that the post-earnings selloff has further room to run.

The 9% single-session decline is the kind of move that resets expectations quickly. Investors who were positioned around that earlier resistance test are now reassessing where fair value actually sits after the earnings report.

At key support, bargain hunters and short sellers collide and swings turn sharp. How the stock behaves around $6.90 into the close will tell investors which side has the upper hand.