BE - U.S. Clean Energy Stocks Pop But Will It Last?
2024-05-24 15:53:00 ET
It was a great week for U.S. clean energy stocks after the Biden administration announced new protections against foreign competition across energy products.
According to data provided by S&P Global Market Intelligence , Bloom Energy (NYSE: BE) was up as much as 27.7% this week, and American Superconductor (NASDAQ: AMSC) jumped 12.9%. The two stocks are up 27.5% and 12%, respectively, at 3 p.m. ET on Friday. Protections won't be great for every company though, and that's why Li Auto (NASDAQ: LI) was down 19% this week.
We learned this month the Biden administration will put tariffs in place for all kinds of clean energy products from China. Solar cell tariffs will increase from 25% to 50%, and electric vehicle (EV) tariffs will go to 100%.
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U.S. Clean Energy Stocks Pop, But Will It Last?