Gencor Industries Inc
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Industrials : Machinery | Small Cap Blend
Company profile

Gencor Industries, Inc. is a manufacturer of heavy machinery used in the production of highway construction materials, synthetic fuels and environmental control equipment. The Company designs, manufactures and sells machinery and related equipment used primarily for the production of asphalt and highway construction materials. Its geographical segments are United States and Other. The Company's principal products include asphalt plants, combustion systems and fluid heat transfer systems. It also manufactures related asphalt plant equipment, including hot mix storage silos, fabric filtration systems, cold feed bins and other plant components. The Company also manufactures soil remediation machinery, as well as combustion systems for rotary dryers, kilns, fume and liquid incinerators and fuel heaters. Its General Combustion subsidiary also manufactures the Hy-Way heat and Beverley lines of thermal fluid heat transfer systems and specialty storage tanks for an array of industry uses.

Closing Price
$12.58
Day's Change
-0.35 (-2.71%)
Bid
--
Ask
--
B/A Size
--
Day's High
12.74
Day's Low
12.50
Volume
(Light)
Volume:
18,226

10-day average volume:
24,928
18,226

A 'long-term top' is taking shape, and these stocks could bear the brunt, investor warns

10:47 am ET December 23, 2020 (MarketWatch)
Print

Shawn Langlois

In 2000, while it was all about the likes of Qualcomm (QCOM), Intel (INTC), an assortment of dot-com stocks were doomed. Two decades later, and the players may have changed, but the stock-market story rings familiar, according to Luke Palmer of the popular Bear Traps Report blog (https://www.thebeartrapsreport.com/blog/2020/12/22/renewable-froth-memories-of-the-dot-com-boom/).

"Renewable froth" is a prevalent theme in the current bubble, he explained, pointing to the wild performance of Plug Power (PLUG), Nio (NIO), Enphase Energy (ENPH) and, of course, Tesla (TSLA).

"Not only are renewables trading at sky-high valuations, but price-to-sales ratios in growth stocks as a whole are now above their 2000 peak," Palmer wrote, referring to this chart:

Palmer singled out Cisco (CSCO), in particular, as an example of when a good company with a bright future can still wreak havoc on a portfolio.

"Despite becoming a very successful company over the past twenty years, now employing over 80,000 people, Cisco is still -45% below its 2000 peak!" he wrote. "The important thing to remember is when equities become this overbought on a long-term technical basis, they are pricing-in DECADES of success. Everyone knows renewables are the future of power-generation, that does not mean these valuations are sustainable in the near-term."

And it's not just top-heavy renewable energy stocks that have Palmer concerned. He warned that S&P 500 index's Relative Strength Index, an technical indicator of momentum used to determine overbought or oversold conditions, suggests trouble ahead for the bulls.

"Just like the dot-com peak, the quarterly RSI in the Index has been fading lower for a few years (loss of momentum), while the S&P 500's price has hit new highs, this is MEANINGFUL bearish divergence," he wrote. "In our view, we are close to a long-term top."

No sign of a top in Wednesday's trading session though, with the Dow Jones Industrial Average , Nasdaq Composite and S&P 500 all moving nicely higher ahead of the Christmas holiday.

-Shawn Langlois; 415-439-6400; AskNewswires@dowjones.com

	

(END) Dow Jones Newswires

December 23, 2020 10:47 ET (15:47 GMT)

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