Ben Richardson, CEO at SulNOx, confident they can cost-effectively decarbonise commercial shipping. Watch the video here.
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Reports circulating that Plug Power have identified accounting errors and need to re-state their financial statements going back to 2018....
Of the 4 top underlying shares 2 dropped 8% and 2 dropped 5%. It’s still the concerns over inflation and interest rates and green shares in a bubble. But some of the stimulus cheques being invested could find its way here. Lots of nervousness apprehension over what the fed will say about interest rate forecasts at 6pm today.
The price tends to follow the S&P clean energy index. This has been subject to a fair bit of selling also linking in with the Nasdaq. This is a long term hold and will rise slowly over the summer as Congress passes more of Biden's clean energy bills. So hang in there and don't look at daily prices!
Any idea what's prompted such a big drop?
Knew this would happen as soon as I mentioned it. Anyone know the reason for the drop?
I'm making a mess of this investment lol. I keep topping up when it's high and then it falls again. So far 7.6% down.
Still hoping for some positives long term
Minus 5% at opening.
You definitely jinxed it ??
I might jinx it, but this seems to be on the way up now.
P/E for this ETF is now about 30.
Yes that’s right, no typo, just 30. For a growth fund with a lot of potential within the next decade, that seems extremely low. Gives me confidence that the market has over corrected this big time.
Hullo all. I have been into this a while and its defo a very LTH for me. I think the whole sector was due a re-rate whilst folk let the green wave become a reality not a novelty. PP was clearly a burden. Do you thing they will be quick to rebalance the components? This is now also part of my kids S&S Isa's. Im figuring there is plenty of time to climb as the world wakes up to what is needed from this sector.
Yes agree way to heavy on plug power. As an alternative ETF is RENG. L&G's version. A wider portfolio with a bit less volatility. Have a smaller holding on this. May switch more.
I struggle to not seeing this recovery medium-term (4-6 months), I'm holding long-term for sure. I work in energy investments and just think there needs to be a bit of a correction on some of these smaller niche players that whilst innovative have surged of late above reasonable market caps. With that said, the energy world is shifting, but would like to see a more balanced inclusion of companies in the ETF. Not immensely familiar with management of ETFs, do they regularly rebalance? The exposure to Plug Power feels heavy.
This makes interesting reading. https://www.iea.org/reports/renewables-2020
My main concern is the very high valuation at inception of the ETF and the years at a low base that followed. Hopefully these are now more mature companies and we won't see a return to £4-5.
Stop looking so short term! Zoom out and look at the graph over 12 months. Yes I've also made a big recent paper loss - but I'm still up 28%. Look and hold for at least 6 months and you will look back as this as one of these blips caused buy wider market factors. This ETF will be back at 1350-1400 by July.
It's disappointing to watch such a huge drop on an ETF, hopefully they'll rebalance away from Plug Power as it seems too closely tied to its performance. Nursing a large loss on this but just have to accept that my timing was terrible. I'm so far in the red that the only thing I can do is forget it for a while. Might consider buying the dip if it can find some degree of stability.
Pretty tragic really, was thinking an ETF was a good idea, turns out spread the load over the industry was a bad idea at the moment, now forced to LTH just make up any losses, keep thinking " How much worst can it get" then I log in....oh much worse
1 Day NAV Change as of 04/Mar/2021
-0.53 (-3.74%)
Patience is word. Markets go up and down....... Renewable energy is a long term hold. This will go up but to get to 1400 again, it may take four plus months. Where else you going to go - the whole market is bearish at the moment.
I do hope so. I think the support could be around 930, but I'm not 100% sure.
Yes disappointing but we've been here before. This will rise again but slowly over the long term. The hype has now passed and the speculators are going elsewhere, so hopefully the day traders will let us long term holders get on with it!
I really hope so. At the moment I'm not sure why this is dropping at this rate.
Will the SP increase around summer when US announces green policies??
My average price is 1363, so I’m currently down 22%. Not fun, but I hope it recovers.
The bears believe the components of this fund are overvalued garbage and earnings will never catch up to its current price.
Surprised by the extent of the drop. It all seems to be sentiment driven as there are no big disasters in the big constituents of the ETF. Plug is down even more in early trading. I guess that's the danger of a thematic ETF. Hopefully we won't see years in the doldrums again, the climate crisis is getting worse, we need these companies.