SPWR - Why Solar Stocks First Solar SunPower and Sunnova Rocketed Higher Today
2024-05-22 16:38:37 ET
Shares of solar-related stocks First Solar (NASDAQ: FSLR) , SunPower (NASDAQ: SPWR) , and Sunnova Energy (NYSE: NOVA) were rocketing higher today, appreciating 18%, 17.4%, and 12.6%, respectively, as of 2:08 p.m. EDT.
First Solar received a positive analyst upgrade late yesterday and was up 8% or so on Tuesday before its renewed surge today. However, it appears the optimism is obviously percolating throughout the entire solar and clean energy industry.
This is likely because the content of the analyst note, combined with a recent focus on the electricity demand of artificial intelligence (AI) data centers, is causing investors to lap up clean energy stocks as a segment that will benefit from AI but, unlike tech stocks, had recently been trading mostly at beaten-down valuations.
For further details see:
Why Solar Stocks First Solar, SunPower, and Sunnova Rocketed Higher Today