This week, TPI Composites Inc (TPIC) stock gained 12.37% and gained 14.94% during the past month. The last quarter saw shares of this company rise by 91.7%. Within the last six months, shares have gained 137.03% while the overall gain is 219.95% for the year. A year-to-date (YTD) price performance of 49.19% now stands for this stock.
TPI Composites Inc. (TPIC) opened at $78.74 and hit an intraday high of $78.91. A low price of $75.27 was reached during Friday’s trading session. TPI Composites Inc. displays a relatively high trading volume that ranks higher than 15.53% of their daily average volume on Friday. A total of 0.63 million shares were traded on Friday, which exceeds 15.53% of the company’s total average daily trading volume.
The company produces large-scale plastic composite parts, including blades for wind farms of the greatest intensity. A complex product such as this requires quality materials and experience.
A positive impact of Joe Biden’s election as President was seen by TPI Composites’ stock quotes. Order on the development of renewable energy was one of the new President’s first decisions and re-entered the United States into the Paris climate agreement. The American coast will have a new wind farm built by 2030. TPI Composites will be able to take on new orders of large scale and expand production capacity.
Hence, the rise in TPI Composite price is due to optimism regarding the next generation of energy, including super-powerful wind turbines. TPI Composites is likely to exceed its long-term potential, even if mid-term expectations don’t materialize. Energy from large wind turbines is cheap, and they can power coastal industrial cities and be placed wherever the wind blows. We’ll see rapid progress in this field within the next decade.