Business & Investment

Strategist supports his favorite stock despite the fall

Wind energy park “Order Volland” in the Order Spree district of Brandenburg, Germany.

Patrick Pururu | Image Alliance | Getty Images

Stocks related to the “Green Transformation” theme have been a hit so far this year, but one stock strategist is backing many stocks in the long run.

This was after a surge in green energy stocks in 2020 as oil and gas companies suffered from a pandemic plunge in demand. But so far this year the roles have been reversed.

Earlier this month, Saxo Bank’s head of equity strategy, Peter Garnley, said in a note to investors, “Investors are beginning to adjust their views on green transformation and are paying heavily for future growth. I’m guessing I’m starting to ask if it’s there. “

At that time, Saxo Bank’s 40-share “green transformation” basket (including well-known names such as Tesla) fell 9.1% so far in 2021 to be the worst performance of any Danish investment banking equity theme. Was shown.

Last week, most of the green stocks fell, so the decline continues sharply. Global markets have experienced another wobble due to inflation concerns..

Nevertheless, Garnry remains bullish in this sector for several important reasons.

Strategist supports his favorite stock despite the fall

https://www.cnbc.com/2021/05/17/green-stocks-strategist-backs-his-favorite-shares-despite-fall.html Strategist supports his favorite stock despite the fall

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