This week, our attention was attracted by such companies as Golden Ocean Group, SunPower, Maxeon Solar Technologies, Enphase Energy, First Solar, ShiftPixy, and Rivian Automotive. Find out what has happened to these companies.

Golden Ocean stock is sinking

Shares of Golden Ocean Group are falling

On Tuesday 6 September, the shares of the Norwegian shipping company Golden Ocean Group Ltd. (NASDAQ: GOGL) closed the trading session with a decline of 11.1% to $8.73. On the next day, the shares lost 3.21% more, dropping to $8.45.

Experts note that nothing, in particular, happened at Golden Ocean Group Ltd. this week that could justify this drop. Most probably, investors are worried about a sharp decline in the Baltic Dry Index (BFI), which represents the demand for sea shipping.

It is worth noting that, this week, the index dropped by 66.4% compared to the peak of May 2022, and by 80% from the peak of October 2021.

Solar energy stocks are rising

Solar energy stocks are growing

Since Monday, the share price of SunPower Corporation (NASDAQ: SPWR) recorded a 27.1% growth to $27.79, Maxeon Solar Technologies Ltd. (NASDAQ:MAXN) grew 20.1% to $22.55, Enphase Energy Inc. (NASDAQ:ENPH) surged 13.7% to $317.41, and First Solar Inc. (NASDAQ:FSLR) rose 8.8% to $137.53.

The stock quotes of the solar energy sector representatives skyrocketed after Joe Biden signed the Inflation Reduction Act into law. The document embraces several acts aimed at transitioning to green energy. Solar energy is practically considered to be the main energy source in the US.

According to the report by the Solar Energy Industries Association and the research by Wood Mackenzie, thanks to the new Act, the US Solar Energy market is expected to grow 40% more by 2027 than previously forecasted.

The number of solar installations in the country is expected to increase from 129 GW to 336 GW over the next 5 years. According to Wood Mackenzie analysts, the Inflation Reduction Act gives the solar industry much-needed certainty – the most long-term one in the history of the sector.

ShiftPixy plans double listing with subsidiary

ShiftPixy shares are growing after news about double listing with subsidiary

On Thursday 8 September, it became known that the developer of ShiftPixy Inc., the modern high-tech platform for scheduling and recruiting shift workers, is planning to turn its subsidiary ShiftPixy Labs into a separate company and make it public.

ShiftPixy Inc. announced that it plans to place the shares of ShiftPixy Labs Inc. on NASDAQ and Upstream in October 2022. As you know, Upstream is a stock exchange of traditional and digital MERJ securities.

The news about creating a subsidiary and organising a double listing sent the shares of ShiftPixy Inc. (NASDAQ: PIXY) skyrocketing 176.54% to $31 on the same day.

Rivian announced cooperation with Mercedes-Benz

Rivian Automotive shares are growing on news about partnership with Mercedes-Benz

On Thursday, American electric car maker Rivian Automotive Inc. announced that it had signed an agreement with Mercedes-Benz Van, a subsidiary of Daimler AG.

The companies will create a joint venture for developing and producing electric commercial transport vehicles for the European market. The electric vans will be manufactured on the Rivian Light Van and Mercedes-Benz Vans platforms. Production will start in a couple of years on one of Mercedes-Benz's plants in Central or Eastern Europe.

The parties agreed on joint use of investments, technology, and accessory supplier bases. They are confident that the agreement will initiate wider cooperation.

On 8 September, following the news about the partnership with Mercedes-Benz, the stock of Rivian Automotive Inc. (NASDAQ: RIVN) surged 10.92% to $36.88. Note that the shares of the car manufacturer have been growing for four sessions in a row.

Summing up

The decline of the Baltic Dry Index impacted the share price of Golden Ocean Group Ltd. negatively, with its quotes losing 11% as a consequence.

Joe Biden signed the Inflation Reduction Act that will create the conditions for speedy development of the solar energy sector. Share prices of SunPower Corporation, Maxeon Solar Technologies Ltd., Enphase Energy Inc., and First Solar Inc. demonstrated growth.

The stock quotes of ShiftPixy Inc. skyrocketed 177% following the news about creating a subsidiary and carrying out a double listing.

Rivian Automotive Inc. and Mercedes-Benz Van to form a joint enterprise for producing electric vans — this news sent Rivian's stock surging 11%.


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Server is the guru of searching for market insights. Since 2019 he writes about everything that might be useful to the investor, focusing on the stock market and its assets.