CHPT - Why Enphase and Renewable Energy Stocks Jumped This Week
2023-11-17 14:53:20 ET
Renewable energy stocks continued their hot streak this week, but it wasn't strong earnings or big signings that had investors buying shares. Instead, it was simply speculation about the future of interest rates and pushed valuations higher.
According to data provided by S&P Global Market Intelligence , shares of Enphase Energy (NASDAQ: ENPH) were up 16.3% between the close of the market last Friday and the close on Thursday, SunPower (NASDAQ: SPWR) was up 14.2%, Brookfield Renewable Corp. (NYSE: BEPC) gained 16.3%, and ChargePoint Holding (NYSE: CHPT) popped 15.5%.
Despite the strong start to the week, ChargePoint ended up falling as much as 37.7% early in trading on Friday, which I'll get into.
For further details see:
Why Enphase and Renewable Energy Stocks Jumped This Week