The stock action seems to have become a mirror reflecting symptoms of what used to be called manic-depression afflicting energy investors.
Here's the last month of prices via TradingView:
And from Bloomberg, December 11:
GE Vernova Inc. has signed multiple contracts to sell natural gas turbines for data centers that will use enough power to light up major cities, the company’s top executive said.
Big technology companies are reserving turbines — the engines at the heart of gas-fired power plants — for their planned 5-gigawatt data center campuses, GE Vernova Chief Executive Officer Scott Strazik said Wednesday. The companies aim to get some of these massive facilities up and running as early as 2028, he said.
In the last 30 days alone, GE Vernova has signed 9 gigawatts of reservations for gas turbines from customers including data center developers, Strazik said.
“That’s just scratching the surface to what’s coming,” he said in an interview at Bloomberg News headquarters in New York.
Artificial intelligence, new factories and the electrification of everything from vehicles to home heating is forecast to send power consumption soaring. That demand may be met primarily by fossil fuels, complicating major tech companies’ climate goals. In the US, electricity consumption is projected to surge by almost 16% over the next five years, according to a recent report from Grid Strategies.
While Amazon.com Inc., Alphabet Inc. and Microsoft Corp. are all investing in nuclear, that buildout will take years and gas is seen as a key way to meet demand this decade.
Research firm CreditSights recently scaled back its projections for wind and solar growth by 2030 and more than doubled its estimates of gas demand for data center growth over that period....
....MORE
The stock is down $9.98 (-2.90%) following yesterday's $16.41 (+5.01%) up-move, $333.82 last.
Previously on GE Vernova:
November 7
"Trump’s Win Is Crushing Renewable-Energy Stocks. Why This One Is Gaining." (GEV)
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.
- 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
