As the trading week continues to progress, there are plenty of stocks that have emerged as the ones that may be watched closely by investors. Before the beginning of trading today, there may be a number of stocks that investors could look into this morning and this article is going to give them a glimpse into those stocks.
However, at the same time, it ought to be noted that there are too many stocks that may actually demand the attention of investors. As a result, it pays to be a bit more selective. Here is a look at three stocks that may be worth tracking today.
Mass Megawatts Wind Power Inc (OTC:MMMW) – The renewable energy sector is expected to be a sector of interest for years to come among investors and hence, it may just be the right time to start looking into stocks of leading companies in the sector.
One of the companies that may be worth tracking by investors at this point in time is that of Mass Megawatts Wind Power Inc. It has been in the news over the past weeks and on Wednesday, it was in the news once again following a key announcement.
The company announced that the vertical single-axis design of its solar tracker had the capabilities of being scaled up in size so that the cost of desalination is reduced. The announcement implies that a bigger volume of fresh water could be produced with the help of the solar tracker at a reduced cost.
The announcement was a significant one from the company and one that could bring the Mass Megawatts Wind Power stock into focus among investors in the coming days.
First Solar (NASDAQ:FSLR) – The next one is also a renewable energy stock and one that may be worth looking into at this point. The company in question is First Solar, which is involved in providing solar energy solutions.
The company’s stock has actually managed to limit the damage during this bear market and has fallen by only 15% this year so far. That makes it an outperformer when compared to the current bear market. The company is involved in the development of photovoltaic solar modules but it has suffered from a considerable drop in revenues owing to the drop in the average selling price.
Revenues from its Japan project have also gone down and that has been a troublesome development for the company as well. At this point, inflationary pressures and other associated factors may be affecting First Solar but in the long run things may easily turn around for the company. Hence, it could be a good idea for investors to continue to keep an eye on further developments.
Canadian Solar (NASDAQ:CSIQ) – Lastly, it is the Canadian Solar stock that investors may consider looking into considering the fact that the company is a major player in the solar modules as well as storage solutions segments. The company currently has the capability of shipping products worth in the range between $2.2 billion and $2.4 billion every year.
The products include as much as 22 Gigawatts worth of module shipments and on top of that, battery storage to the tune of as much as 1.9 Gigawatt hours. It remains to be seen if the Canadian Solar stock emerges as one of the options for investors looking into the renewable energy sector.
