Post by
Schussing56 on Jun 23, 2023 8:26am
Broader Market Factors
The one thing no one seems to be talking about in regard to the recent slump in SPB's share price is; broader market factors. US production is slumping, the Eurozone is already in a technical recession, and the China economic rebound after Covid lockdowns has been much weaker than expected. Analysts continue to be extremely bearish on China. According to Jing Roy, portfolio asset manager for TD, in Canada, bankruptcies are rising, consumer spending is weakening, and credit card payments and car loan defaults have increased. She expects a prolonged recession in Canada, maybe 6-9 months. One would think that SPB would be a good defensive stock to hold under such conditions but, when you have just bet the farm on a renewable energy co., all bets are off. Some say that Trudeau's Green Hydrogen deal with Olaf Schulz was little more than a photo op and besides, needed infrastructure wouldn't be ready until at least 2025 anyway. Tighten your belts and hang on folks, the roller coaster has started its descent!