SolarEdge Stock Jumps Despite Lukewarm Initiation

Shares of SolarEdge Technologies (NASDAQ: SEDG) have jumped today, up by 9% as of 3:30 p.m. EDT, despite Barclays initiating coverage on the stock with an equal weight rating (equivalent to neutral). The pop is more likely attributable to a broad market rally driven by continued hopes around a massive economic stimulus bill to help mitigate the impact of the COVID-19 pandemic.

The $2 trillion aid bill is moving through Congress following negotiations among lawmakers. They're scheduled to vote on the package today. Markets also skyrocketed yesterday on the same hopes.

Image source: Getty Images.

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Source Fool.com