Reconstitution of the Russell 2000 index: Bloom Energy, a stock with a market cap of 85 billion, was removed—falling 18.5% in a single day. In theory, when a passive index removes a constituent, the liquidity shock is obvious, but someone insisted on holding their position and pretending nothing happened after the announcement—so this drop is the tuition. From a technical perspective, it’s purely a liquidity-driven selloff within expectations, not much to do with fundamentals. Just sit back and watch the drama.