GOOD NEWS
In the one year since President Biden signed the historic CHIPS and Science Act into law, companies have announced over $166 billion in manufacturing of semiconductors and electronics, and at least 50 community colleges in 19 states have announced new or expanded programming to help American workers access good-paying jobs in the semiconductor industry.
In total, since the beginning of the Biden-Harris Administration, companies have announced over $231 billion in commitments in semiconductor and electronics investments in the United States.
We’re coming back, baby. The Biden team have done a great job on this — worth reading in full.
And this:
The Clean Energy Future Is Arriving Faster Than You Think.
. . . Wind and solar power are breaking records, and renewables are now expected to overtake coal by 2025 as the world’s largest source of electricity. . . .
Way too late — I blame Ralph Nader — but better late than never.
(Even China’s going into overdrive, expected to double its capacity by 2025, five years ahead of schedule.)
APE/AMC
APE converts into AMC a week from Thursday, at which point the reverse 1-for-10 split will also occur. I decided discretion is the better part of valor and sold most of my APE yesterday. Not as big a gain as I’d hoped, but my experience is that stocks rarely do well after reverse splits . . . and AMC plans to issue a whole lot of new shares soon, perhaps adding more to supply than to demand.
But what a saga.
For a while, at least, I’ll be watching mostly from the sidelines.
