SPWR - Solar Stocks Are Rallying Wednesday: What's Going On? | Benzinga
Shares of several solar companies, including Canadian Solar Inc. (NASDAQ:CSIQ), Enphase Energy, Inc. (NASDAQ:ENPH), First Solar, Inc. (NASDAQ:FSLR), and SolarEdge Technologies, Inc. (NASDAQ:SEDG), are trading higher Wednesday afternoon, possibly in response to President Joe Biden’s recent announcement of increased tariffs on Chinese imports, which included a significant hike on solar cells.
What’s Going On: Reports from last week indicated that the Biden administration is planning to impose a 50% tariff on Chinese solar cells this year, up from the previous 25%. The move aims to curb the influx of cheap, subsidized Chinese products that have been flooding the global market. ...