Ex-CEO calls for sale of Fermi; shares rise

Fermi

21/04/2026 10:25

** Shares of data center real estate investment trust Fermi FRMI.O up 2% at $5.51 premarket

** Former CEO Toby Neugebauer calls for an immediate sale of the power startup

** The move comes after Neugebauer's abrupt departure, which he claimed was "without cause"

** He, his family and other former execs hold a combined 40% stake

** On Monday, the firm announced a string of C-suite departures, sending shares down 18%

** Average rating of 10 analysts on the stocks is a "buy"; median PT at $26.50 - data compiled by LSEG

** As of last close, FRMI stock down 32.5% YTD

 (Reporting by Tharuniyaa Lakshmi in Bengaluru)

 ((tharuniyaa@thomsonreuters.com))