The drop in share price happened because of electricity prices dropping from reduced economic activity during the pandemic. Less electricity consumption means lower demand means less profits.
Now there's a simplistic analysis. One could also suggest that people working from home means more electricity used by heating/cooling, computers, TVs, etc.
If there was underlying value in the company, there may have been a small drop if there was a reduction in demand, but not 60-70%. But when you look at it, the share price was trending down well before Covid, and just continued down at the same rate. This suggests something more fundamental than Covid, and that electricity usage either did not change significantly or was not a factor in the share price.
I would rather a crew with decades of combined experience running the show than a newbie with a promise to shake up the status quo and ending up like Elizabeth Holmes (of Theranos infamy).
Rather like the people who knew all about power stations but nothing about renewables and batteries pronouncing that none of that could substitute for a power station? Ignoring the fact, for example, that batteries can switch on in milliseconds when required, while a power station takes 20 minutes to days to ramp up. So their ideas of how to manage a transition are likely to be reliable?
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