Here's Why SunPower Is Soaring Today

Shares of SunPower (NASDAQ: SPWR) rose as much as 16.9% today. While there was no company-specific news, investors appear to be reacting to favorable comments made by Enphase Energy (NASDAQ: ENPH) on the company's fourth-quarter and full-year 2020 earnings conference call. 

Specifically, Enphase Energy CEO Badri Kothandaraman said that he didn't expect the ongoing coronavirus epidemic in China to have a big impact on first-quarter 2020 revenue guidance. The the microinverter leader said it might have to expedite product shipping out of China with cargo planes, but it didn't foresee a component shortage on the horizon at this time.

As of 3:37 p.m. EST, the renewable energy stock had settled to a 13.7% gain.

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Source Fool.com