FAN - Why This Wind Energy Stock Crashed 40% in 2 Weeks
Before the recent market pullback, renewable energy stocks seemed to be able to do no wrong. The average company in the First Trust Global Wind Energy ETF (NYSEMKT: FAN) , a fund that represents the broader wind industry, soared nearly 60% in 2020, four times more than the S&P 500 . But some investors are getting nervous about rising interest rates and fears of slowing growth.
These issues are weighing heavily on wind turbine blade manufacturer TPI Composites (NASDAQ: TPIC) , which has seen its value shed 40% in just two weeks. Here's what's going right and wrong with TPI, and what it needs to do to regain Wall Street's favor.
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Why This Wind Energy Stock Crashed 40% in 2 Weeks