Disclaimer, I do own some stock in this company.
Amazing two last days!
The Renewable energy part of EDP (Electricity of Portugal) has jumped 16,6% in only 3 days. This has be both happy and worried. Worried because a lot of short term investors might now be looking for a way out, while I’m looking for a more long term investment and would like to see this company have a sustainable growth (both in the stock market and in their operations).
EDPR is listed in the Lisbon section of the Euronext / NYSE . It had an IPO at 8 euros and has plunged to the depths of renewable hell when it was worth less than 4 euros a share. It has since made a nice return and lots of early investors are waiting for the magical return to the 8 euro mark.
I’m just happy to own stock in a renewable energy company. I hope they start diversifying their activities, as they mainly focus on wind power right now. Their activies are spread accross sections of the US and some countries in Europe, but being a Portuguese company, I think they should go into solar energy soon.
Anyway, it’s not everyday that I get so excited about the stock market, so I decided to share.
Some stock market good news (for me)