NOVA - Solar stocks rally to two-month high as restriction fears ease

Enphase Energy ([[ENPH]] +7.4%) leads a red-hot showing today for solar stocks, with the Invesco Solar ETF ([[TAN]] +6.4%) surging to its highest level since late April and trimming its YTD loss to 13.5%.Other strong gainers include [[JKS]] +22.2%, [[CSIQ]] +12.2%, [[SPWR]] +11.5%, [[MAXN]] +11.3%, [[NOVA]] +8.5%, [[SEDG]] +6.2%, [[FSLR]] +5.8%, [[RUN]] +5.8%.Worries have eased over the Biden administration's plan to ban some shipments of solar materials made in China's Xinjiang region, with Daqo New Energy ([[DQ]] +13.3%) wiping out nearly two weeks' worth of losses.Morgan Stanley analysts predict the restrictions should have a limited effect on the industry, as China-based Hoshine Silicon Industry accounted for less than 2% of U.S. solar imports over the past few years, implying a minimal impact.Solar shares also have been helped recently by growing talk of legislation that would offer tax credits for each stage of the solar manufacturing supply chain, including polysilicon, wafers,

For further details see:

Solar stocks rally to two-month high as restriction fears ease