Originally published on 14th of September 2022
ESGFIRE returns since 2018: + 1200 %
ESGFIRE returns year to date 2022: +15 %
NASDAQ returns year to date 2022: – 26 %
We believe transparency and reviewing past results is one of the most important things for running a public portfolio. Therefore ESGFIRE decided to make a short review of past positions we have had in the portfolio and how the stock performed after we decided to sell the position to see if we made the right call or not.
Our review below shows that the average return for positions which we publicly declared that we had sold for different reasons was -63 % . We therfore feel very confident in that the decisions we made to sell these positions at different times in the past was completely correct.
Company: Cielo Waste Solutions
Stock symbol: $CMC
Stock return since ESGFIRE sold: – 90 %
We decided to sell this position after it turned out the technology process was not as far ahead as the management at the time had implied towards the market. Our decision to exit the position proved to be correct as the company is still struggling with getting traction in terms of technology developments and sales.
Company: Clear Blue Technologies
Stock symbol: $CBLU
Stock return since ESGFIRE sold: – 69 %
Clear Blue Technologies was sold because we anticipated a financing which also did occur. Also we had hopes that the company would deliver bigger orders in a faster period of time but this has not materialized and therefore the share prices has plummeted.
Company: Nuvve Holding Corp
Stock symbol: $NVVE
Stock return since ESGFIRE sold: -79 %
Nuvve was struggling to deliver on their own sales targets. We sold because wanted to see that their business model was working , despite signing a HUGE joint venture that could show its value the company has yet to deliver any substantial revenues and has failed to meet its own sales targets.
Company: Newlox Gold Ventures Corp
Stock symbol: $LUX
Stock return since ESGFIRE sold: – 40 %
In March we wrote the following reason for selling this position “Consistent delays for the company has caused us to drop this position and reallocate our capital elsewhere as we think our other positions will offer better return both on a short and long term basis.”
We have been proven right in our thesis since the company has delivered many delays and also could not even deliver their financial reports in time which caused the stock to be halted for a longer period of time.
Company: Environmental waste international Inc
Stock symbol: $EWS
Stock return since ESGFIRE sold: – 72 %
We wrote the following comment when we sold this position in november of 2021:
“Sold our entire position at a big loss due to poor management execution. The conversion project of their test facility has taken way to long for us to stay content”. Management has continued to perform very poorly and they continue to keep shareholders in the dark with poor investor relations.
Company: Solarvest Bioenergy
Stock symbol: $SVS
Stock return since ESGFIRE sold: – 33 %
This position was also sold due to poor management execution and not much seems to have happent since we sold either. The company still struggles to deliver significant sales despite claiming to have a worldclass product.
We DO NOT own shares of these companies personally.
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