RE:RE:First Power From Nordsee Onegvixid wrote: You would think the market would see this news release as positive and send the share price up. Any thoughts on why it's dropping?
I don't pay too much attention to small daily moves, up or down. That's just background noise. The SP is within 60 cents ot the 52 week which is the all time high (if memory serves me right). We'll be setting new all time highs in the coming months.
I think the share price is performing well considering it is less than a month since they announced (March 3) the acquisition of the Deutsche Bucht, 252 MW offshore wind project. This acquisition tops up their development pipeline which was starting to look a little lean. A few days after the acquisition announcement, it was trading at $23.70. Since then it has traded above $25 and TD raised their target price to $27 from $25 as a result of the acquisition.