We recently compiled a list of the 10 Firms Buck Market Bloodbath on Monday. In this article, we are going to take a look at where NextEra Energy, Inc. (NYSE:NEE) stands against the other stocks.
The stock market suffered a bloodbath anew on Monday, with the Nasdaq plunging to its worst level in three years over concerns about the health of the US economy after the Trump administration acknowledged the possibility of a potential rough patch.
The tech-heavy Nasdaq fell the heaviest, down 4 percent, followed by the S&P 500, which declined by 2.7 percent. The Dow Jones, for its part, dropped by 2.08 percent.
Meanwhile, 10 companies managed to book modest gains, bucking the broader market caution. We have identified the names that led the charge and detailed the reasons behind their performance.
To come up with the list, we considered only the stocks with $2 billion in market capitalization and $5 million in trading volume.
A wind turbine, its blades spinning to generate clean renewable energy.
NextEra Energy, Inc. (NYSE:NEE) grew its share prices by 4.57 percent on Monday to finish at $76.16 apiece following a bullish comment from its chief that global power demand is expected to spike by 55 percent over the next 20 years.
At an energy conference in Houston, Texas on Monday, NextEra Energy, Inc. (NYSE:NEE) Chief Executive Officer John Ketchum said that some 17 percent of the projected demand is expected to come from power-hungry data centers that are crucial in the boom of the artificial intelligence industry.
He added that costs for gas-fired power generation have more than tripled with the already growing demand, making renewable energy cheaper and more available at the moment.
“We’re going to need it all. We’re going to need renewables. We’re going to need gas. We’re going to need nuclear,” Ketchum said.
The CEO added that NextEra Energy, Inc. (NYSE:NEE) is looking at recommissioning the Duane Arnold nuclear facility in Iowa—one of the potential restarts in the United States.
Overall NEE ranks 7th on our list of Monday’s top gainers. While we acknowledge the potential of NEE as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than NEE but trades at less than 5 times its earnings, check out our report about the cheapest AI stock.
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