This month Principal Solar (PSWW) shares started surging after a majority of oil and gas stocks began gaining momentum due to growing crude oil prices. Currently, an oil embargo isn’t set against Russia even though many countries are urging the EU and U.S to speed up sanctioning energy products of Russia. If that terrible nightmare happens to the Ural and Siberian origin oil and gas the energy resources will blast off by making even small-cap drilling firms emerge after the 2014 oil price wars between the Middle East and Russia.
While Principal Solar deals with both renewable energy and natural energy resources PSWW stock could grow only due to surging oil prices. The company has no news from its corporate press releases but its shares soaring only due to good news from the high demand for energy products. This means that renewable energy still has fewer consumers than natural energy has now.
A year ago PSWW was trading as high as $0.28 per share. Eventually, the stock has kept declining after the solar energy trend was over in May 2021. Today it is rocketing because of gaining oil prices. The company has diversified its niches so it will survive in times of uncertainty.