BE - Why Shares of Bloom Energy First Solar and Nikola Are Zooming Higher Today
It was a busy weekend in Washington, D.C. -- and renewable energy companies are reaping the benefits. With the passage of the Inflation Reduction Act taking a significant step closer to reality, investors are gobbling up shares of various clean energy tickers to start the week. In addition, some bullish attention from analysts is also helping to motivate investors.
As of 11:38 a.m. ET today, shares of fuel cell stock Bloom Energy (NYSE: BE) are up 4.7%, while solar panel manufacturer First Solar (NASDAQ: FSLR) and electric vehicle (EV) manufacturer Nikola (NASDAQ: NKLA) are up 6.3% and 3.2%, respectively.
Providing the tie-breaking vote, Vice President Kamala Harris secured approval of the Inflation Reduction Act in the U.S. Senate yesterday to the delight of many renewable energy advocates. The Democrats' victory had seemed significantly more doubtful just a few weeks ago before Democratic Sen. Joe Manchin had offered his support, and it seemed increasingly likely with the recent approval of another Democratic senator, Kyrsten Sinema.
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Why Shares of Bloom Energy, First Solar, and Nikola Are Zooming Higher Today