Stem Inc

Energy storage / clean energy softwareUSA

New to Unitard

📉 Public < $1B

Peak $3 BillionToday

−99%

from peak

🦄
Became a unicorn
2021
📈
Peak valuation
$3 Billion ’21
💔
Became a Unitard
2022
💸
Last valuation
~$29M

Current status

Public (NYSE: STEM); received an NYSE delisting warning

Live · STEM· NYSE

as of 2026-10-23

$3.01▼ 13.51% today

≈ $29 Million market cap · −99.0% from peak

The rise & fall

6 moments · 2009–2024

The key moments, with employee sentiment along the way.

2009

Founded in California

Batteries plus brains: the Athena software learns when to charge and discharge storage assets to shave energy costs.

Wikipedia

Apr 2021

Joins the club via SPAC

Merges with Star Peak Energy Transition Corp and goes public at the height of clean-energy enthusiasm.

SEC filing

2021

The peak: ~$3B post-merger high$3B

The stock runs up after the debut; the AI-for-batteries story commands about $3B.

Motley Fool

2022

Slips out of the club

Bookings and revenue fall, losses persist, and the de-SPAC premium evaporates.

Motley Fool

2022–24

From the inside · Glassdoor reviews, 2022–24

Through the slide, Glassdoor reviews described constant strategy pivots and leadership turnover, recurring layoff rounds that staff said repeatedly landed before stock grants vested, and a hardware-versus-software identity question that stayed unresolved as talent left.

Sep 2024

CEO out as the stock loses its footing

A strategic review begins; with the shares sliding under $1, an NYSE delisting warning follows.

Energy-Storage.news

Today

Still in the club — and still trading

Live · STEM · NYSEas of 2026-10-23

$3.01▼ 13.51% today≈ $29M cap · −99.0% from peak

💬 entries paraphrase anonymous, unverified reviews posted publicly on Glassdoor ↗; dated facts carry their source.

How it happened

Stem Inc sells AI-driven software (Athena) and services to optimize battery-storage and solar assets, and went public in April 2021 via a SPAC merger with Star Peak Energy Transition Corp amid clean-energy enthusiasm.

Growth disappointed, bookings and revenue fell, and losses persisted; the stock dropped about 97% from its post-merger highs, traded below $1 and drew an NYSE delisting warning. Its CEO stepped down in 2024 as the company launched a strategic review.

Source: Motley Fool / Energy-Storage.news / SEC (SPAC merger with Star Peak Energy Transition Corp April 2021; stock fell ~97% from post-SPAC highs; CEO stepped down Sept 2024; NYSE sub-$1 warning)

Who ran it

John Carrington
CEO who led Stem through its SPAC listing and peak; stepped down Sept 2024
Now Chief Executive Officer at ERockLinkedIn ↗

Current roles as self-reported on LinkedIn, retrieved 2026-08-21. See our methodology.

Disclosed investors (22)

Historical funding participation; lists may be incomplete and do not establish current ownership or investor losses.

* Lead in a funding round · Crunchbase ↗ · 2026-10-13 · Methodology · Leaderboard