Why NextEra Energy Stock Rallied 12% in May

Shares of NextEra Energy (NYSE: NEE) rose 12.6% in May, according to data provided by S&P Global Market Intelligence. A couple of factors powered the rally in the electric utility stock, including reports that it might bid on a rival utility.

NextEra Energy's stock has been uncharacteristically volatile this year. Shares sold off in March and April as investors worried about how much the COVID-19 outbreak would impact demand for the energy it produces. As things turned out, it was immune, which was evident in the first-quarter results it reported in late April. That gave investors the confidence to buy shares.

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Source Fool.com