After trading up $20.53 (+6.50%) yesterday the stock is up another $3.95 (+1.17%) to $340.25 in pre-market action.
From Barron's, November 6:
GE Vernova stock benefits from green-energy trends that could take a hit in a second Trump presidency. Investors don’t look worried, though.
Shares of renewable-energy companies are taking it on the chin Wednesday after Donald Trump won his second presidential term. But one stock tied to green energy was up.
GE Vernova shares were up 6.8% at $336.96 in afternoon trading while the S&P 500 and Dow Jones Industrial Average had gained 2.4% and 3.4%, respectively.
GE Vernova makes wind turbines and benefits from any growth in renewable electricity generation but gains for its shares easily outpaces other stocks tied to the same trend. Shares of solar panel maker First Solar, solar technology company Enphase , and renewable-power generator NextEra Energy were down 9.5%, 15%, and 5.2%, respectively.
Stocks started moving significantly as the Associated Press called key swing states of North Carolina, Georgia, and Pennsylvania in Trump’s favor, putting him just three electoral votes away from a return to the White House. The AP called Wisconsin for Trump shortly before 6 a.m. Eastern time, giving Trump the electoral college votes required for victory....
....That is a risk for GE Vernova’s wind business, too. But GE Vernova also makes natural-gas-fired power-generation turbines—the company’s most profitable business—and electricity grid technologies. Both benefit from growth in electricity demand, which has accelerated partly due to the emergence of artificial-intelligence computing and isn’t affected by which party controls the government....
....MUCH MORE
October 24
GE Vernova: Following Yesterday's Earnings Release The Stock Gets Three Price-Target Increases (GEV)
The stock is up $16.41 (+5.86%) at $296.29. This follows on yesterday's reversal to end green and is now up $24 from pixel time for "Power Generation—"GE Vernova Q3 Earnings: Strong Sales, Earnings Miss, Cash Flow Surge & More" (GEV)"
October 23
Power Generation—"GE Vernova Q3 Earnings: Strong Sales, Earnings Miss, Cash Flow Surge & More" (GEV)
GEV is the electric part of the old General Electric. They estimate their equipment is involved, one way or another, in 30% of the world's electricity production. The stock represents one of the class acts of infrastructure and has been popular of late, what with the A. and the I. and all that. Here's six months of that popularity via TradingView:
Up 77.82% over the period, down 1.65% (-$4.55) today. $271.86 last....
October 7"A GE spinoff's stock is surging as it positions itself as the 'supermarket' for AI energy demand" (GEV)
- January 2024 - "GE Gets Biggest Onshore Wind Order Ever Ahead of Split Up" (GE)
- May 2024 - Goldman Sachs' Picks For Data Center Electricity Demand Growth
Our other "class act" company, Quanta Services was down $3.80
(-1.21%) yesterday even though they too will be needed to rebuild the
grid regardless of who is in the White House.
$311.50 last, up $0.68 pre-market.
First Solar is probably dead money for a quarter, $192.20 down $1.82 (-0.94%) pre-market after getting whacked for -$21.87 (-10.13% )on November 6.
If interested see yesterday's "UPDATED—Iowa Pollster Ann Selzer Destroyed The Dreams (and more importantly the finances) Of Renewable Energy Investors (FSLR)"
