PPVX below its level of the beginning of the year
Post date: 07/03/2021 - 16:34
After suffering heavy losses for three weeks in a row, the PHOTON Photovoltaic Stock Index PPVX has completely lost the gains it made in the first six calendar weeks. At 3,969 points last Friday, the index was trading 8.9 percent lower than a week earlier and also 2.5 percent below its Jan. 1 level. Its benchmark NYSE Arca Oil, on the other hand, posted a strong 11.9 percent gain last week and is now 39.9 percent higher than at the start of the year.
GCL-Poly, up 1.1 percent, was the only PPVX stock to end last week with a price gain. Renesola (27.4 percent), Daqo New Energy (23.3 percent) and Xinyi Solar (21.1 percent) suffered the most significant losses. The top 3 stocks year-to-date are GCL-Poly with a gain of 134.1 percent, Daqo New Energy (39.4 percent) and Sunpower (19.7 percent). The highest losses from January levels are currently posted by Renesola (67.7 percent since joining the PPVX on Jan. 22), Soltec (40.5 percent) and Solarpack (38.9 percent).
The cumulative market value of all PPVX companies is currently around €111.0 billion ($133.5 billion). For the index calculation, the number of weighting points based on the respective stock market value was changed for two PPVX stocks, namely from four to three for Solarpack and from four to five for Sunnova. In a long-term comparison since the beginning of 2003, the PPVX (up 1,311 percent) has a lead of 1,199 percentage points over the NYSE Arca Oil (up 112 percent).