RE:A long trendline10 year treasury yield dips at the start today. Renewables go up. Then yields go up within an hour and stocks fall. Correlation is there. Whether it's Northland,n Brookfield or any other they all follow the same road.
Would imply even with satisfactory profit numbers, that in an environment of rising interest rates, profit numbers on stock price would be minimal.
But this doesn't mean run and hide. Stock analysts know all about rising interest rates and how to incorp such in their estimates; but still maintain higher stock price estimates for Northland. The difference between estimates and the current price is well over $2 billion market cap for Northland.
Such a striking difference can't be explained away simply because of rising interest rates. Oversold for other reasons to which numbers can't be assigned.