First Solar, clean energy stocks slump after Biden-Trump debate
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Clean energy stocks posted broad losses in Friday’s trading following last night’s presidential debate, a potential sign that investors are starting to price in a victory for Donald Trump after President Biden’s widely criticized showing.
First Solar (NASDAQ:FSLR), considered one of the biggest winners of the Biden administration’s climate subsidies, was the day’s second largest loser on the S&P 500, -9.8%.
Also ranking among the 10 biggest losers on the S&P 500: AES Corp. (AES) -7.9%, Enphase Energy (ENPH) -5.2%, Quanta Services (PWR) -4.6%, NextEra Energy (NEE) -3.9%.
Among solar stocks: Maxeon Solar (MAXN) -23.8%, Sunnova Energy (NOVA) -14.3%, Sunrun (RUN) -10.6%, Canadian Solar (CSIQ) -4.8%, JinkoSolar (JKS) -3.5%, Array Technologies (ARRY) -3.2%.
Among alternative energy names: TPI Composites (TPIC) -8%, Bloom Energy (BE) -6.1%, Plug Power (PLUG) -5.3%, Stem (STEM) -3.5%, Clean Energy Fuels (CLNE) -3.2%.
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