PPL sell off

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I read the release from PPL this morning about earnings … I guess I missed something! Why the seemingly inordinately massive sell off?

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Asked on February 26, 2021 8:07 am
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My thoughts as well - time to accumulate :)

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Posted by Al Haggart
Answered on February 26, 2021 2:26 pm
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Hi there,

The earnings themselves were fine, but it suffered a big writedown on Jordan Cove and its petrochemical plant. These assets were either shelved, or were suspended given current uncertainty and it took a $1.6B writedown. That is likely what is dragging the stock down.

Worth nothing however, it re-iterated Fiscal 2021 guidance and several analysts came out in support of the strong earnings and re-iterated their positive outlook on the company in 2021. But today's dip? Defintiely a short sighted-move related to the writedowns.

Mat

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Posted by Mathieu Litalien
Answered on February 26, 2021 1:33 pm
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