Why Clean Energy Stocks Collapsed This Week
The week couldn't have been much worse for clean energy companies that once had hopes of disrupting the energy industry. As interest rates rise and the market looks for profitable companies, there aren't many to be found in the clean energy industry.
According to data provided by S&P Global Market Intelligence, shares of Nikola Corp (NASDAQ: NKLA) fell as much as 16.7% this week, FuelCell Energy (NASDAQ: FCEL) dropped 21.1%, and Sunnova Energy (NYSE: NOVA) was down 11.9%. Each stock is at its low for the week at noon ET on Friday.
Investors need to see some kind of progress in getting to profitability, and that's not happening in the industry today.
Source Fool.com
