SOL - Why Enphase Energy SolarEdge and ReneSola Stocks Popped Today
Share prices of SolarEdge Technologies (NASDAQ: SEDG) , Enphase Energy (NASDAQ: ENPH) , and ReneSola (NYSE: SOL) -- all of which are solar technology companies -- were jumping Tuesday as the price of oil continued to climb.
As of 2:22 p.m. ET, SolarEdge was up 9.6%, Enphase had gained 10%, and ReneSola had skyrocketed by 25.7%.
Numerous renewable energy stocks have been rising lately as Russia's invasion of Ukraine has caused oil prices to surge from levels that were already high due to a supply and demand imbalance. Russia supplies oil and natural gas to many European countries -- and also exports some oil to the U.S.
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Why Enphase Energy, SolarEdge, and ReneSola Stocks Popped Today