BLNK - Why Renewable Energy Stocks Had an Amazing Week
2024-05-17 14:19:20 ET
Renewable energy stocks went crazy this week as meme investing returned, short squeezes happened, and there was maybe some light at the end of the tunnel for some of these companies.
The biggest move was SunPower (NASDAQ: SPWR) , which was up well over 100% early in the week, and as of noon ET on Friday is now up 43% for the week, according to data provided by S&P Global Market Intelligence . Direct competitor Sunnova Energy International (NYSE: NOVA) was also up as much as 23.6% and is now up 13.9% for the week.
Charging stocks were also beneficiaries, with Blink Charging (NASDAQ: BLNK) jumping as much as 23.8% and ChargePoint (NYSE: CHPT) up 24.2% at its peak. The two charging stocks are currently up 18.1% and 23.5%, respectively, for the week.
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Why Renewable Energy Stocks Had an Amazing Week