Why Clean Energy Stocks Lucid Motors, Plug Power, and NextEra Energy Partners Surged Today
Shares of Lucid Motors (NASDAQ: LCID), Plug Power (NASDAQ: PLUG), and NextEra Energy Partners (NYSE: NEP) had rallied by 6.6%, 11.1%, and 8.3%, respectively, as of 2 p.m. ET Tuesday.
These three companies have two big things in common. First, each is at the forefront of the clean energy revolution -- Lucid as a designer and manufacturer of luxury electric vehicles, Plug Power as it builds out an end-to-end clean hydrogen ecosystem, and NextEra as a partner to clean energy-focused utility NextEra Energy (NYSE: NEE).
Second, all three of these companies are still dependent on outside funding to some extent, given they are all still in their growth phases. Thus, they have been battered by the rapid rise in long-term interest rates in the market in recent months.
Source Fool.com
