PPVX down 5.9 percent
Post date: 02/02/2021 - 13:04
After substantial gains in the first weeks of the new year, the PHOTON Photovoltaic Stock Index PPVX fell 5.9 percent last week to 4,695 points. Its benchmark NYSE Arca Oil lost 6.9 percent. With plus 15.4 percent since the beginning of the year, the PPVX is 11.4 percentage points ahead of the oil stock index (plus 4.0 percent). In a long-term comparison since the beginning of 2003, the PPVX (up 1,568.8 percent) has a lead of 1,511.1 percentage points over the oil stocks (up 57.7 percent). The cumulative market value of all PPVX companies is currently around €129.5 billion ($156.8 billion).
The top 3 solar stocks year-to-date are SunPower (up 110.6 percent), GCL-Poly (95.1 percent) and Daqo New Energy (53.5 percent). The highest share price losses since January 1 are recorded by Renesola (down 38.3 percent since joining the PPVX on Jan. 22), Solarpack (27.8 percent) and Soltec (20.3 percent). During the past week, only two companies posted price gains: GCL-Poly (20.0 percent) and SunPower (14.4 percent). The biggest losses were suffered by shares of Renesola (38.3 percent), Array Technologies (20.2 percent) and Sunrun (19.8 percent).
The weighting factors used to calculate the PPVX were increased at the beginning of the year for seven stocks: from three to four weighing points (corresponding to a market cap between €0.8 billion and €3.3 billion) for Meyer Burger, Solarpack and Soltec, from four to five weighing points (€3.2 billion to 12.8 billion) for GCL-Poly, Daqo New Energy and SunPower, and from five to six (more than €12.8 billion) for Xinyi Solar.