While markets look like they're going to finish the week higher than where they began, First Solar (NASDAQ: FSLR) is poised to close sharply higher. Between the building belief that the climate bill will successfully move out of the House of Representatives and several positive takes on the stock from analysts, investors are scooping up shares of the solar specialist over the past few days.
As of 1:11 p.m. ET today, shares of First Solar have risen 17% since the market's close last Friday.
While momentum for the climate bill had stalled earlier this summer, the legislation overcame a significant hurdle last weekend, gaining Senate approval and moving to the House. The Inflation Reduction Act provides $369 in funding to shore up America's energy security, meaning solar power companies, like First Solar, will surely benefit should the bill become law.
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Why Shares of First Solar Are Rising This Week