downward trajectory

Stock prices of all Electric Vehicle companies have tanked (Update)

Not only have Electric Vehicle company stock prices tanked, the solar panel industry is in even worse shape.

Some of the nation’s biggest public solar companies are struggling to stay afloat as questions arise over the viability of the financial products they sold to both consumers and investors to fund their growing operations.

In late 2023 alone, more than 100 residential solar dealers and installers in the U.S. declared bankruptcy, according to Roth Capital Partners—six times the number in the previous three years combined. Roth expects at least 100 more to fail.

The two largest companies in the industry, SunRun and Sunnova, both posted big losses in their most recent quarterly reports, and their shares are down 86% and 81% respectively from their peaks in January 2021. (This isn’t because of an economy-wide trend; the S&P 500 has grown 26% over the same time period.)

Sunnova is also under the microscope for having received a $3 billion loan guarantee from the Department of Energy while facing numerous complaints about troubling sales practices that targeted low-income and elderly homeowners.

Another solar giant, SunPower, saw shares plunge 41% on Dec. 18 after it said that it may not be able to continue to operate because of debt issues. Sunlight Financial, a big player in the solar finance space, filed for Chapter 11 bankruptcy in October; it also faces a lawsuit alleging that the company made false and misleading statements about its financial well-being.

Solar customers across the country say that salespeople obscure the specific terms of the financial agreements and cloud the value of the products they peddle. Related court cases are starting to pile up. “I have been practicing consumer law for over a decade, and I’ve never seen anything like what we are seeing in the solar industry right now,” says Kristin Kemnitzer, who represents Jones and says her firm gets “multiple” calls every week from potential clients with similar stories.

About one-third of the upfront cost of a residential solar system goes to intermediaries like sales and financing people, says Pol Lezcano, an analyst with Bloomberg New Energy Finance. In Germany, where installation is done locally and there are fewer intermediaries, the typical residential system costs about 50% less than it costs in the U.S. “The upfront cost of these systems is stupidly high,” says Lezcano, making residential solar not “scalable.”  Full story at Time Magazine

Get Woke, go Broke has never been more accurate than in the Solar Panel and Electric Vehicle Industry.

And just why are we doing all this? See this Related Article: More on the fallacy of Electric Vehicles and ‘fake’ global warming

January 25, 2024 

As consumers are learning that man-made climate change is a hoax, electric vehicle sales are plummeting along with those companies stock prices.

Related Article: More on the fallacy of Electric Vehicles and ‘fake’ global warming

% Below High. Look out below!
Li Auto LI: -41%
Tesla TSLA: -55%
Polestar PSNY: -84%
XPeng XPEV: -88%
NIO NIO: -91%
GreenPower GP: -92%
Rivian RIVN: -92%
Vinfast VFS: -93%
LionElectric LEV: -95%
QuantumScape QS: -95%
Lucid LCID: -96%
Fisker FSR: -97%
Canoo GOEV: -99.1%
Nikola NKLA: -99.2%
Lordstown RIDEQ: -99.7%
Proterra PTRAQ: -99.91%
Arrival ARVL: -99.96%
Faraday FFIE: -99.99%

Disadvantages of Electric Vehicles

1. Mileage Range
2. Longer Fueling Time
3. Barriers for Renters & Apartments
4. Cold Temperature Affects Range
5. Cold temperature lengthens recharge times
6. EV owners are not paying gas tax to fix roads. Instead, our mental midget government pays EV buyers $7,500
7. Slave labor children in Africa are dying mining EV battery minerals
8. Mining lithium and Cobalt for the batteries is a environmental disaster
9. Disposal of spent EV batteries is an environmental disaster
10. Replacing an EV battery costs as much as buying a new  low-end regular vehicle.
11. Spontaneous combustion of the batteries – owners need to carry marshmallows to roast when their vehicle burns to crisp
12. EV’s cost a lot more to purchase, especially when optioned
13. Global Warming is caused by activity on the sun, not by humans. Earth has been far warmer well before humans were burning fossil fuels.
14. CO2 is just 0.04% of our atmosphere. If it falls below 0.02% all vegetation dies
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