%SUNW stock popped on Wednesday as projected Democratic victories in Georgia runoff elections boosted investors' hopes for a more robust green energy agenda.
Democrats Raphael Warnock and Jon Ossoff are set to win their races giving the party control of the Senate, according to projections from Decision Desk HQ and Insider.
It seems Washington is set to go green with a Democrat-controlled Senate, plus Joe Biden's stated goal of a 100% clean grid at the core of his climate agenda. As the Washington Post reported green energy lobbyists are lining up for their shot to influence the Biden Administration.
The rally comes on the back of multiple positive reports on the sector from the likes of Goldman Sachs and JP Morgan.
JP Morgan analyst Paul Coster said in the company's December Alternative Energy Outlook that "the falling cost per watt of renewable energy…positions wind and solar as the lowest-cost source of energy in approximately 70% of the world.
markets.businessinsi...gy-2021-1-1029938013
After nearly running out of cash last year, the company has a new lease on life after selling $20 million in stock in December and paying off a $2.7 million loan. Sunworks intends to use its improved balance sheet to drive growth.
The biggest problem for Sunworks is that it isn't even close to making money. Revenue in the first nine months of 2020 was just $29.3 million and losses were $11.1 million, or $0.75 per share. Those trends look like they'll continue, and with bigger, more established solar stocks available, this isn't a gamble I would be taking today.
www.fool.com/in...38-on-thursday/?source=ept...
Democrats Raphael Warnock and Jon Ossoff are set to win their races giving the party control of the Senate, according to projections from Decision Desk HQ and Insider.
It seems Washington is set to go green with a Democrat-controlled Senate, plus Joe Biden's stated goal of a 100% clean grid at the core of his climate agenda. As the Washington Post reported green energy lobbyists are lining up for their shot to influence the Biden Administration.
The rally comes on the back of multiple positive reports on the sector from the likes of Goldman Sachs and JP Morgan.
JP Morgan analyst Paul Coster said in the company's December Alternative Energy Outlook that "the falling cost per watt of renewable energy…positions wind and solar as the lowest-cost source of energy in approximately 70% of the world.
markets.businessinsi...gy-2021-1-1029938013
After nearly running out of cash last year, the company has a new lease on life after selling $20 million in stock in December and paying off a $2.7 million loan. Sunworks intends to use its improved balance sheet to drive growth.
The biggest problem for Sunworks is that it isn't even close to making money. Revenue in the first nine months of 2020 was just $29.3 million and losses were $11.1 million, or $0.75 per share. Those trends look like they'll continue, and with bigger, more established solar stocks available, this isn't a gamble I would be taking today.
www.fool.com/in...38-on-thursday/?source=ept...