After the election of Obama, many believed that we would see a surge in alternative energy stock prices, but this did not happen. As reviewed in a Renewable Energy World article “of the approximately 250 alternative energy companies that the Roen Financial Report tracks, only 21 companies, or less than 9%, were gainers. In other words, losers beat gainers by a 10:1 ratio! On average, alternative energy companies were down 5.8%, with 35 companies showing double-digit losses for the week. Of the 21 gainers, fully half were volatile penny stocks with market caps less than $100 million, so those gains may change very quickly.”
“Of the six alternative energy industries — wind, solar, smart grid, efficiency, fuel alternatives and environmental companies — wind fared the worst. Only two wind companies posted a gain for the week, Pike Electric Corporation (PIKE) and the highly speculative Quantum Fuel Systems Technologies (QTWW). Otherwise, the average wind company lost 6.0% for the week.”
Overall the entire stock market was down about 4 percent and Energy sectors were down 5.1 percent. All 68 industries Fidelity lists were down the only exception was Biotechnology.
With regard to the fiscal cliff the country was right back where it started. So concerns about the fiscal cliff made investors wary, oil futures dropped and energy stocks tanked.
The alternative energy picture will improve dramatically if Washington continues to move ahead with alternative energy initiatives, particularly a carbon tax.
With all the low hanging fruit out there, Energy Efficiency companies may benefit the most.
© 2012, Richard Matthews. All rights reserved.
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