SEDG - Why SolarEdge Vivint Solar and Clean Energy Fuels Stocks Popped 10% Today
It's Wednesday, and the great yo-yo that is the oil market -- down so much yesterday -- is rolling back up today. As of 1:55 p.m. EDT, barrels of West Texas Intermediate crude oil due for delivery in June cost 23.5% more than they did yesterday, at $15.30 a barrel. Brent crude, the international benchmark, is up 9.1% at $22.32 a barrel.
Shares of oil companies such as Exxon and Chevron, naturally, are rising in tandem with oil prices. But companies that offer alternatives to oil are also seeing a benefit from today's pricing news. Solar-inverter maker SolarEdge Technologies (NASDAQ: SEDG), for example, is up a healthy 7.5%, while solar-panel installer Vivint Solar (NYSE: VSLR) is racking up 11.3% gains. Clean Energy Fuels (NASDAQ: CLNE), whose focus is natural gas as opposed to solar power, is also benefiting from this market move, with its shares up 9.9%.
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