Why Enphase Energy, SolarEdge, and ReneSola Stocks Popped Today

Share prices of SolarEdge Technologies (NASDAQ: SEDG), Enphase Energy (NASDAQ: ENPH), and ReneSola (NYSE: SOL) -- all of which are solar technology companies -- were jumping Tuesday as the price of oil continued to climb.

As of 2:22 p.m. ET, SolarEdge was up 9.6%, Enphase had gained 10%, and ReneSola had skyrocketed by 25.7%.

Numerous renewable energy stocks have been rising lately as Russia's invasion of Ukraine has caused oil prices to surge from levels that were already high due to a supply and demand imbalance. Russia supplies oil and natural gas to many European countries -- and also exports some oil to the U.S.

Source Fool.com