Why Generac Stock Surged 82.6% in the First Half of 2021
Backup power generation equipment manufacturer Generac Holdings (NYSE: GNRC) soared a remarkable 82.6% in the first half of 2021, according to data from S&P Global Market Intelligence. The move follows a remarkable 252% rise in the stock over the last year.
Just about everything is going right for the company right now. If it isn't the stay-at-home measures encouraging spending on the home (Generac generates 65% of its sales to residential customers), it's power outages in Texas leading to a pickup in demand for standby generators. In addition, California has suffered power shutoffs to guard against the risk of wildfires. Moreover, Generac is a beneficiary of the movement toward renewable energy due to its energy storage batteries.
Image source: Getty Images.
Source Fool.com
