Why Enphase, SolarEdge, and Lucid Stocks Rallied Today
Solar and electric-vehicle (EV) stocks Enphase Energy (NASDAQ: ENPH), SolarEdge Technologies (NASDAQ: SEDG), and Lucid Group (NASDAQ: LCID) were rallying big on Thursday, rising 13.2%, 16.2%, and 13.9%, respectively, as of 12:10 p.m. ET.
Solar and EV stocks are generally rallying in a catch-up trade following yesterday's Federal Reserve meeting and press conference with Chairman Jay Powell. In the aftermath, many rate-sensitive stocks, including renewables and EVs, continue to benefit, as the meeting spurred increased confidence in lower inflation, lower interest rates, and a higher probability of an economic soft landing in the year ahead.
The past 18 months have shown just how sensitive most renewable energy stocks are to interest rates.
Source Fool.com
