Plug Power fell nearly -10%, and hydrogen energy led the decline today; Sige New Energy fell more than six points, and Enphase and QuantumScape also fell four or five points😪
Photovoltaics, hydrogen energy, energy storage, and solid-state batteries together are all high-beta clean energy targets that are still burning cash and far from profitability. When market risk appetite contracts, the entire batch gets pushed down. For this kind of sector without near-term cash flow support, before macro turns around, rebounds are basically seen as opportunities to reduce positions.
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