RE:Nasdaqbmbruce wrote: there seems to be a strong correlation with the movement in the nasdaq index suggesting that it's being traded by algorithms
Renewables for the most part are lumped in with momentum names, which they have been for the last while. From a factor perspective, You are seeing momo names dumped across the board for things like traditional energy names and financials. These names could then turn into the new momo names from a algo standpoint. Too early to say, but wouldnt be good for renewables moving forward. Folks will hate on this note, but is what it is when competeting with algos.