Solar energy has been soaring after President Biden announced they will be suspending tariffs on solar panels in Cambodia, Malaysia, Thailand, and Vietnam for 24 months. The three companies seeing the biggest increase are: Array Technologies (ARRY) +18%, Sunrun (RUN) +5.9%, and Enphase Energy (ENPH) +5.4%. The Invesco Solar ETF (TAN) is also cashing in on the boost up around +4.4% for the day.
ETF Newz Says:
Solar energy stocks have been down since November but the recent announcement could help them restore their former glory.