Is Coal Dead? Wind Just Ate Its Lunch This Year — 7 Energy ETFs To Watch In 2024
Portfolio Pulse from Natan Ponieman
The article discusses the contrasting fortunes of the coal and clean energy sectors. The First Trust Global Wind Energy ETF (FAN) has seen gains, while the coal industry faces setbacks despite some continued global demand. The Range Global Coal Index ETF (COAL) was launched this year, showing modest gains. Major coal companies like Peabody Energy (BTU) and Arch Resources (ARCH) have had mixed performances. Clean energy ETFs like iShares Global Clean Energy (ICLN) and Invesco Solar (TAN) have struggled, while Tesla (TSLA) might be poised for a rebound.
August 16, 2024 | 8:14 pm
News sentiment analysis
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NEGATIVE IMPACT
Arch Resources Inc (ARCH) shares are down over 24% since January, indicating significant struggles in the coal sector.
The significant decline in share price suggests strong negative sentiment and potential further short-term declines.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 60
NEGATIVE IMPACT
iShares Global Clean Energy ETF (ICLN) is down 8% since January and 12% in the last year, struggling with a 'death cross' technical pattern.
The 'death cross' pattern and declining performance indicate strong negative sentiment and potential further short-term declines.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 70
NEGATIVE IMPACT
Invesco Solar ETF (TAN) is down 22% since January and 30% in the past year, reflecting significant struggles in the solar energy sector.
The significant decline in performance suggests strong negative sentiment and potential further short-term declines.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 70
NEUTRAL IMPACT
Peabody Energy Corp (BTU) shares are down 7.7% since January but up 2.3% in the past year, reflecting mixed investor sentiment towards coal.
The mixed performance indicates uncertainty in the coal sector, with short-term fluctuations likely.
CONFIDENCE 70
IMPORTANCE 50
RELEVANCE 60
NEUTRAL IMPACT
Range Global Coal Index ETF (COAL) launched this year and has shown modest gains, reflecting ongoing interest in coal despite global trends towards clean energy.
The ETF's modest gains suggest a balanced outlook, with some investor interest but also significant headwinds from the global shift to clean energy.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 70
POSITIVE IMPACT
First Trust Global Wind Energy ETF (FAN) has gained 4% since January and 6.6% in the past year, reflecting positive investor sentiment towards wind energy.
The ETF's performance indicates strong investor confidence in wind energy, likely leading to continued short-term gains.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
Warrior Met Coal Inc (HCC) shares are up 49% in the last year, showing strong performance in the coal sector.
The strong performance suggests positive investor sentiment and potential for continued short-term gains.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 60
POSITIVE IMPACT
Tesla Inc (TSLA) could be up for a rebound after losing almost 13% of its value since January, according to a Benzinga technical analysis.
The technical analysis suggests a potential rebound, indicating positive short-term prospects.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 60