PPVX down 6.1 percent
Post date: 11/02/2018 - 16:31
Last week, the PHOTON Photovoltaic Stock Index PPVX has once again dropped significantly. It stood at 1,083 points on Friday, 6.1 percent lower than a week earlier. Compared to the beginning of the year, the index has now lost 9.4 percent. Its reference value, NYSE Arca Oil, also fell significantly: by 6.0 percent last week and by 8.1 percent since January 1. With a plus of 285.0 percent since the beginning of 2003, the PPVX has a lead of 143.2 percentage points over the Arca Oil (plus 141.8 percent). The cumulative market capitalization of all PPVX companies amounts to around €26.6 billion ($32.6 billion). For the calculation of the index, the weighting factor of the Chinese-Canadian solar group Canadian Solar was reduced on 9 February from 4 (for a market capitalization of €800 million to 3.2 billion / $980.6 million to 3.9 billion) to 3 (€200 to 800 million / $245.2 to 980.6 million).
Only two PPVX companies posted price gains last week: REC Silicon (8.2 percent) and Terraform Power (1.9 percent). The shares of Jinko Solar (20.0 percent), Xinyi Solar (14.6 percent) and Gintech Energy (14.2 percent) suffered the highest losses. The strongest gains since the beginning of the year were recorded by SMA (17.8 percent), Sino-American Silicon (16.6 percent) and Azur Power Global (16.4 percent), while the highest losses were recorded by Jinko Solar (28.6 percent), Vivint Solar (28.4 percent) and – despite last week's gains – REC Silicon (22.8 percent).