Losing $5,000 on Alternus Clean Energy (Nasdaq:ALCE)
Lessons and learnings in to invest in alternative energy
A few weeks ago, I invested in Alternus Clean Energy, a company founded in Ireland in 2016 that develops, installs, and operates solar parks in the U.S. and Europe.
I'm an enthusiastic investor in the energy market, and solar energy is one of my key investment theses. Crescera, the VC firm where I currently serve as an advisor, invested in 77Sol, a Brazilian startup focused on developing the solar energy market here. This involvement has allowed me to learn a lot about the industry.
As part of my strategy to identify opportunities in small solar energy companies, I discovered ALCE and decided to invest $5,000 a month ago.
Last week, Nasdaq notified the company of its delisting. The reason? The stock price plummeted to $0.04. I bought 5,800 ALCE shares at $0.89 on January 3rd. My rationale for this investment was to trade the stock in the short term, anticipating potential positive news about their production pipeline.
At this point, I'm prepared to take a full loss on this $5,000 investment.
Even so, I remain committed to investing in solar energy companies.