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RDEIF - Red Electrica: A Dominant Telecom Firm And Electrical Utility
Red Electrica Corporacion SA
Red Electrica (RDEIY) is a Spanish utility which trades at a discount, as many stocks do, due to the coronavirus outbreak. The considerable impact that the epidemic has had on Spain may lead investors to be bearish on all Spanish stocks, but that bearishness is out of place in the case of this particular stock.
With lockdowns causing industrial sites to close down, energy usage in Spain was reported on 03/20/2020 to be 10% lower than it was the previous week. Household energy consumption has increased as more people stay home or work