SunPower Stock Jumped 105%, Leading Residential Solar Energy Stocks
Solar energy stocks had an incredible day on Tuesday with (NASDAQ: SPWR) jumping as much as 105% in trading before closing up 61.6% on the day. Call it meme trading or a short squeeze, but shares were up huge on almost no news for the industry.
SunPower wasn't the only solar stock moving today. Sunnova Energy International (NYSE: NOVA) was up as much as 32.8% and closed the day up 27.8%, while Sunrun (NASDAQ: RUN) rose 15.5% before closing up 6.5%. Will the gains today last?
Yesterday started a major run-up in stocks that were popular in the 2020 and 2021 meme craze, including SunPower, Sunnova, and Sunrun. But the move was given fuel by what appears to be a short squeeze, and you can see below that SunPower's large short interest percentage has fueled its rise.
Source Fool.com
Sunpower Corp. Stock
Our community is currently low on Sunpower Corp. with 9 Buy predictions and 20 Sell predictions.
However, we have a potential of 587.68% for Sunpower Corp. as the target price of 6 € is above the current price of 0.87 €.
