Stock Market Today, April 20: Fermi Shares Plunge on CEO and CFO Resignations
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By Emma Newbery – Apr 20, 2026 at 5:55PM ESTExpandNASDAQ: FRMIFermiToday's Change(-17.56%) $-1.15Current Price$5.40Key Data PointsMarket Cap$4.1BDay's Range$5.03 - $5.7652wk Range$4.47 - $36.99Volume61MAvg Vol9.4MFermi (FRMI 17.56%), an AI-focused private power developer, closed Monday at $5.40, down 17.56%. The stock fell as investors reacted to the departures of its chief executive officer (CEO) and chief financial officer (CFO), as well as it calls “Fermi 2.0” -- a new strategic direction.Trading volume reached 61 million shares, coming in over 550% above its three-month average of 9 million shares. Fermi IPO'd in 2025 and has fallen 78% since going public.How the markets moved todayThe S&P 500 (^GSPC 0.24%) slipped 0.24% to 7,109, while the Nasdaq Composite (^IXIC 0.26%) declined 0.26% to 24,404. Among data center REITs, industry peers Digital Realty Trust (DLR +0.14%) closed up 0.14% at $203.91, and Equinix (EQIX +1.41%) gained 1.41% to finish at $1,103.97, underscoring wider sector confidence. What this means for investorsFermi has struggled since going public last October, falling by almost 80% in the past six months. One of the major challenges is that Fermi hasn’t found customers for its planned Project Matador data center in Texas. The project hopes to become the country’s largest combined energy and data campus, but its lack of major clients has delayed progress.Today’s price drop shows investors are unsure about the impact of the firm’s dramatic leadership shake-up and new direction. However, Stifel analysts just reiterated a “buy” rating on the stock on the basis that a new CEO may be better able to negotiate with potential Matador customers. As such, investors will be watching who gets appointed as Fermi’s new CEO.Read NextApr 15, 2026 •By Pamela KockFermi CFO Sells 774,000 Shares as Headwinds PersistApr 3, 2026 •By Brett SchaferWhy Fermi Stock Collapsed 41% Last MonthMar 30, 2026 •By Howard SmithStock Market Today, March 30: Fermi Shares Plunge After Wider Loss and No Tenant for Flagship AI ProjectApr 20, 2026 •By Jack DelaneyMeta's $27 Billion Data Center Places the Spotlight on Natural Gas StocksApr 20, 2026 •By Joe TenebrusoWhy USA Rare Earth Stock Popped TodayApr 20, 2026 •By Eric TrieStock Market Today, April 20: Nokia Rises Ahead of Q1 Earnings on Strength in AI Networking DemandAbout the AuthorEmma Newberry is a contributing Motley Fool cryptocurrency analyst covering digital currencies and blockchain trends. She previously wrote for Motley Fool Money (formerly The Ascent) on personal finance, investing, retirement readiness, and crypto. Earlier in her career, Emma founded an English-language newspaper in Colombia and contributed to Olympic city bid campaigns. She holds a bachelor’s degree in English literature with creative writing from the University of East Anglia in the UK.TMFemmanewberyStocks MentionedFermiNASDAQ: FRMI$5.40(-17.56%)-$1.15Digital Realty TrustNYSE: DLR$203.91(+0.14%)+$0.29EquinixNASDAQ: EQIX$1,103.97(+1.41%)+$15.35*Average returns of all recommendations since inception. Cost basis and return based on previous market day close.