VSLR - Why Vivint Solar SolarEdge and SunPower Stocks Jumped 10% This Morning
This morning, positive news began filtering out of Europe regarding a slowdown in the rate of deaths from people infected with the novel coronavirus, with Deutsche Bank reporting that the "fatality rate" has slowed somewhat in Italy and Spain.
Here in the U.S., Vice President Pence reported "glimmers of progress" and President Trump said he sees a "light at the end of the tunnel."
Stocks across the spectrum are responding positively to the positive sentiments, and solar stocks are no exception. Shares of Vivint Solar (NYSE: VSLR), SolarEdge (NASDAQ: SEDG), and SunPower (NASDAQ: SPWR) all surged well over 10% in early trading. As of 12:35 p.m. EDT, the latter two stocks are continuing to hold onto most of their gains, with SolarEdge still up 12.7%, and SunPower up 13.8%. Vivint, on the other hand, is sagging as the day wears on -- up only 3.2%.