PLUG - Why Aehr Test Systems ChargePoint and Plug Power Shares Plunged Today
2023-10-18 16:47:25 ET
Shares of Aehr Test Systems (NASDAQ: AEHR) , ChargePoint Holdings (NYSE: CHPT) , and Plug Power (NASDAQ: PLUG) were down severely in Wednesday trading, retreating 11.7%, 11.1%, and 10.2%, respectively.
All of these renewable energy stocks have a few things in common, and one of them is high sensitivity to interest rates, with some announcements in the past week making them even more sensitive to rates.
Investors appear to be selling these types of stocks over fear of rapidly rising long-term Treasury bond yields, which surged yet again today, reaching levels not seen since 2006.
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Why Aehr Test Systems, ChargePoint, and Plug Power Shares Plunged Today