Some solar stocks are on the move Thursday thanks to a few different catalysts worth looking into.
First off we have expectations for increased spending on solar energy projects. That’s due to moves from the White House focusing on solar power as a major contributor to future green energy.
Chief among those moves is the Inflation Reduction Act. While solar isn’t mentioned in the name of this new law, it includes several bits of legislation focused on shifting the U.S. toward green energy.
Adding to that, analysts are already weighing in on the benefits the Inflation Reduction Act will have for solar stocks. That has Goldman Sachs analyst Brian Lee upgrading shares of First Solar (NASDAQ:FSLR) and Maxeon (NASDAQ:MAXN) today.
Let’s get into how this new is affecting solar stocks below!
Solar Stocks on the Move Thursday
- FSLR stock is up slightly as of Thursday afternoon.
- SunPower (NASDAQ:SPWR) shares started off up this morning but are down 1.4% as of this writing.
- Enphase Energy (NASDAQ:ENPH) stock likewise was up in morning trading before giving up gains and dropping 1% in afternoon trading.
- MAXN joins FSLR as one of the solar stocks still up today with a 4.3% gain of this writing.
Investors seeking out all of the latest stock market news are in luck!
InvestorPlace is home to all of the most recent stock market coverage traders need for Thursday! A few examples of that include what has shares of ShiftPixy (NASDAQ:PIXY), Wayfair (NYSE:W), and MindMed (NASDAQ:MNMD) stock moving today. You can find out more on these matters at the following links!
More Thursday Stock Market News
- Why Is ShiftPixy (PIXY) Stock Up 96% Today?
- Wayfair (W) Stock Falls on Convertible Note Offering
- MindMed (MNMD) Stock Is Up on Psychedelics News
On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
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