Solar stocks jump by nine percent
Post date: 09/08/2020 - 14:47
At 2,180 points, the PHOTON Photovoltaic Stock Index PPVX was 9.1 percent higher last Friday than in the previous week and reached a new annual high. This is also the highest position since mid-May 2015. Compared to the beginning of the year, the index has now increased by 48.2 percent. Its benchmark NYSE Arca Oil gained 1.4 percent last week, but is still 43.8 percent below its January 1 level (and thus 91.9 percentage points behind the PPVX).
The most successful solar stocks of the week were SunPower (up 27.1%), SunRun (25.4%) and GCL-Poly (25.0%). The highest price losses were suffered by Panda Green Energy (13.3%), Singyes Energy (4.8%) and 7C Solarparken (3.1%).
The highest price gains since January are currently being recorded by Vivint Solar (247.0%), SunRun (233.1%) and Enphase (178.8%). The highest price losses are posted by Meyer Burger (49.5%), SMA (18.3%) and SPCG (6.1%).
The cumulative market value of all PPVX companies currently amounts to approximately €63.9 billion ($75.8 billion). In a long-term comparison since the beginning of 2003, the index has risen by 674.8 percent, 624.8 percentage points ahead of NYSE Arca Oil (plus 50.0 percent). For the calculation of the PPVX, the shares of Daqo New Energy and Neoen were upgraded from three to four and from four to five weighting points, respectively, due to the companies’ increased market capitalizations.