Funko Inc
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Consumer Discretionary : Distributors | Small Cap Blend
Company profile

Funko, Inc. is a pop culture consumer products company. The Company is engaged in selling a broad range of pop culture consumer products, featuring characters from a range of media and entertainment content, including movies, TV shows, video games, music and sports. Its products fall under figures and other product categories. Its figures category includes figures that celebrate pop culture icons in the form of stylized vinyl, blind-packed miniatures and action figures. It includes brands, such as Pop!, Mystery Minis, and Funko Soda. Its other category is comprised of stylized fashion accessories including bags, backpacks and wallets; apparel; board games; plush products; accessories including keychains, pens and pins; apparel including t-shirts and hats; homewares including drinkware and other home accessories; non-fungible tokens (NFTs) and other. It sells its products through a network of retail customers, including specialty retailers, mass-market retailers, and e-commerce sites.

Postmarket

Last Trade
Delayed
$20.30
0.46 (2.32%)
Bid
--
Ask
--
B/A Size
--

Market Hours

Closing Price
$19.84
Day's Change
-0.13 (-0.65%)
Bid close
--
Ask close
--
B/A Size
--
Day's High
20.79
Day's Low
19.71
Volume
(Average)
Volume:
681,225

10-day average volume:
726,630
681,225

'Clean energy' hiring in solar, wind and EVs expands in red and blue states. Enter your ZIP code to see where the jobs are.

1:49 pm ET August 9, 2022 (MarketWatch)
Print

By Rachel Koning Beals

Nonprofit E2 believes passage of the Inflation Reduction Act will drive more job growth in solar, wind, energy efficiency and electric vehicles

From roof-top solar installers to the technicians upgrading your home HVAC and green-minded urban planners, more than 3.2 million Americans now work in "clean energy" as of the start of 2022. And while California remains a leader, hiring has spanned red and blue political states from all regions.

It's a job total that's up 5% from a year earlier, says nonprofit advocacy organization -- and as it claims, nonpartisan -- E2, which stands for Environmental Entrepreneurs.

"This data shows clean energy jobs are not red state jobs or blue state jobs -- they're red, white and blue jobs," said Bob Keefe, E2's executive director.

The year-over-year growth would have been stronger without the uncertainty brought by wavering lawmakers in Washington mulling incentives for solar, heat pumps, electric vehicles (EVs) and more, said E2, which has advocated for federal movement on clean-energy incentives.

This weekend, the Senate advanced the seemingly left-for-dead healthcare, climate and tax package after a marathon session, a slimmer version of what was once labeled Build Back Better and that is now called the Inflation Reduction Act.

The House, where Democrats also hold a slight majority, will vote on Friday. No Republicans voted "yes," as GOP senators argued the measure wouldn't address soaring inflation but would sock Americans with higher taxes. The bill would devote $369 billion to climate policies such as tax credits for solar panels, wind turbines and EVs, and to tackle the impact of pollution on low-income communities.

Related: Here's how the Inflation Reduction Act's rebates and tax credits for heat pumps and solar can lower your energy bill

And: Thinking about an EV? First-ever $4,000 tax credit for used electric vehicles, and $7,500 for new, nears approval

President Biden has argued that clean energy, and the technology needed to produce it, can be a boon to American jobs. Already, the broader job market has remained tight, favoring job seekers, even as murmurs of a recession grow. The strong job market -- recent data showed the unemployment rate matching that from the 1960s -- may help more workers explore growth areas such as green energy and other climate-minded fields.

As for the E2 report, growth spanned every clean-energy subsector. Those subsectors include renewable energy, such as wind, solar(ICLN) and geothermal, to energy efficiency, electric(TSLA) and hybrid vehicle(7203.TO) parts and manufacturing, as well as power grid modernization(DUK)(NEE). Conversely, traditional fossil fuel jobs from the coal, oil and natural gas sectors fell 4%, E2 says, using Department of Energy jobs data in its analysis.

Read: Don't rule out natural gas in the clean-energy transition, trade group says

E2 began tracking nationwide employment across the entire clean energy sector in 2015 The E2 site allows viewers to search by zip code to gauge how strong clean energy jobs are in their area. The tool has 2020 data for now, with an update slated for fall.

"Good-paying clean energy jobs are now an important part of the economy in every state, regardless of politics, location or anything else," said Troy Van Beek, co-founder and CEO of Iowa-based solar developer Ideal Energy.

The estimated likely total pay in the renewable-energy sector, according to Glassdoor, is $131,337 per year in the United States, with an average salary of $96,438 per year. These numbers represent the median, which is the midpoint of the ranges from Glassdoor's "total pay" model. Additional pay could include cash bonuses, commissions, tips and profit sharing.

This state (and it's not California) logged the biggest percentage growth in clean jobs

Every state saw an increase in clean energy occupations, with California continuing to lead the nation with more than 505,000 new jobs (up 4%). Traditional and alternative energy-producer Texas, which led the country in solar and wind energy projects in 2021, followed with 239,000 clean energy jobs (up 7%).

And New York, which passed what some would say are the mostambitious climate policies in the country in 2019, and in 2021 made major announcements in offshore wind and building efficiency, remains third in the country with 160,600 jobs (up 5%).

The list fills out from there with, in order: Florida, Illinois, Michigan, Massachusetts, Ohio, North Carolina and Pennsylvania.

New Mexico, meanwhile, saw the biggest percentage growth in clean energy jobs last year after it passed clean energy policies, E2 said, calling them "some of the most promising policies in the country." Growth also picked up in Oklahoma, Kentucky, Indiana and Idaho.

EV parts and assembly

Clean vehicles were the big story in 2022. Jobs building electric vehicles grew by a dramatic 26% from a year earlier, according to E2.

The report covers the period before an announcment this summer that electric pickup truck maker Rivian(RIVN) , which has Amazon.com(AMZN) backing, would lay off 6% of its workforce, although not at its Illinois plant.

Many Republican-led states, including Georgia, Kentucky, Texas and Tennessee, benefitted greatly from expansions of EV and other clean transportation manufacturers, and also would benefit from electric vehicle tax credits included in the Inflation Reduction Act, even though their Washington representation tends to vote against these measures, Keefe said.

Read: More and more right-leaning Americans worry about climate change, but aren't ready to give up gas stoves

In the bill nearing final congressional passage, new EVs must include a battery that features a large percentage of components that were manufactured or assembled in North America in order to qualify for the incentives.

Not to be outdone, small businesses, the backbone of America's economy some say, continue to employ the majority of the clean energy workforce.

About 90% of all clean energy jobs were at companies that employed fewer than 100 workers, says E2.

"Policy matters. The Inflation Reduction Act would make it more affordable for more Americans to drive electric vehicles, which means more opportunities for small businesses like mine to keep growing," said Ariel Fan, founder and CEO of Los Angeles-based electric vehicle car charging company GreenWealth Energy.

Want more investing ideas? From EVs to AVs, stay on top of the massive changes coming to automobiles. Join Tom Fennimore, CFO of Luminar Technologies, at the Best New Ideas in Money Festival on Sept. 21 and Sept. 22 in New York.

Plus, learn how to incorporate ESG into your investment portfolio. Join Jennifer Grancio, CEO of Engine No. 1, at the Best New Ideas in Money Festival on Sept. 21 and Sept. 22 in New York.

-Rachel Koning Beals

	

(END) Dow Jones Newswires

August 09, 2022 13:49 ET (17:49 GMT)

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