While many pundits are bagging on green-oriented businesses because of low oil prices, at least one columnist is pegging US Geothermal as a stock to watch in 2009.
Wall Street Journal columnist Brett Arends likes U.S. Geothermal, pegging it at No. 7 on his top 10 list. Here's what he had to say in his Dec. 31 column:
"A high-risk, speculative stock. HTM (U.S. Geothermal) is a leveraged alternative-energy play. It's an interesting situation. It's building and operating geothermal power plants out west, and has plenty of cash. The shares have collapsed from $4 to just 70 cents, valuing the company at about $47 million."
Seventy cents is pretty low, but then so is my 401K. Still, if geothermal is a sector that pans out under the Obama administration's stated dedication to the green movement, this stock may turn out to be a bargain. A 1,000-share investment would have cost $700 Dec. 31. The stock is up to 96 cents as of Jan. 2. If it ever gets up to $10 a share, that would be a pretty good turn-around at either price.
Of course, picking stocks these days is mostly a fool's errand. One person left a comment on Arend's column about HTM:
"Did not Barron's recommend HTM as a buy back when it was $3 only to dive to 30 cents. I love it when someone puts on the wizard hat and tells me what the future will look like.. enjoy the 2009 ride everybody :)"
Where does one get a smiley face these days?
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