Weekly Review Of New Energy Global Innovation Index NEX

Each week I provide a review of the previous week’s performance of the WilderHill New Energy Global Innovation Index, symbol NEX. This information is provided by New Energy Finance. The NEX consists of about 90 stocks from 20 countries in seven sectors and is the bogey for the PowerShares Global Clean Energy Fund (PBD). These results are for the week ending on Friday.

For the week the NEX was down 11.9%. This was in line with the losses on the NASDAQ (^IXIC), S&P 500 (^GSPC) and Amex Oil off 9%, 8.3% and 12.9% respectively. The top sector was Power Storage which, believe it or not, managed to break even for the week. Hong Kong based battery manufacturer, BYD Company, soared 45.5% when a subsidiary of Berkshire Hathaway (BRK-A)picked up about 10% of the company.

Most of the remaining sectors fell by serious double digit numbers led by Hydrogen and Fuel Cells, losing 17.9%. Biomass and Biofuels avoided double digits losing “only” 6.4%. VeraSun Energy rebounded 115% after losing 60%+ the previous week. Oh happy volatility!

Here are the winners and losers from the NEX for the week:

NEX top gainers since 23 Sept 2008
VeraSun Energy (VSE) + 115.1%
Byd Co 1211 + 45.5%
PNOC Energy Development Corporation (EDC) + 38.7%
Maxwell Technologies (MXWL) + 12.8%
American Superconductor (AMSC) + 12.0%

NEX top losers since 23 Sept 2008
Plug Power (PLUG) - 59.1%
Verenium (VRNM) - 56.9%
Power-One (PWER) - 42.8%
Comverge (COMV) - 36.1%
Echelon (ELON) - 33.7%

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