New Energy Finance - NEX - Weekly Review
By Tim Plaehn on July 17, 2008 | More Posts By Tim Plaehn | Author's Website
Each week I provide a review of the previous week’s performance of the WilderHill New Energy Global Innovation Index (NEX). This information is provided by New Energy Finance. The NEX is the bogey for the PowerShares Global Clean Energy Fund (PBD). These results are for the week ending on Friday. PBD is my choice of the renewable energy ETFs due to it global reach and the well balanced approach without the concentration in a few issues that are characteristics of many indexs and ETF’s.
The NEX was down 1.4% for the week, very close to the NASDAQ, off 1.4% and the S&P500, minus 1.9%. Amex Oil fell 3.6%. Biofuels and biomass was the top sector, gaining 1.9% even as cellulosic ethanol start up Verenium (VRNM) continued plunging losing 27.7% on top of losing 23.3% the previous week. The bottom sector was power storage, sliding 3.8%. A positive note in this sector was Ultralife Batteries (ULBI) which gained 13.7% on positive revenue news.
Here are the top gainers and losers from the NEX for the week:
NEX top gainers since 08 Jul 2008
Echelon ELON + 24.9%
EnerNOC ENOC + 17.6%
SunPower SPWR + 13.9%
Schmack Biogas SB1 + 13.7%
Ultralife Batteries ULBI + 13.7%
NEX top losers since 08 Jul 2008
Nordex NDX1 - 27.8%
Verenium VRNM - 27.7%
Solon AG fuer Solartechnik SOO1 - 16.7%
Solaria Energia y Medio Ambiente SLR - 14.2%
Brasil Ecodiesel Industria e Comercio de Bioc ECOD3 - 13.3%
Note: I do not have a position in any security listed.
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