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Why Solar Energy Stocks Jumped Today

TheMotleyFool

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Solar energy stocks jumped big on Monday after President Biden authorized the Defense Production Act to increase domestic solar product production and also announced that there will be a 24-month suspension of some solar import duties to help solar installers.

The bounce in stock prices was widespread. Installer Sunrun (NASDAQ: RUN) jumped as much as 15.3% in trading today and closed up 5.9%. Equipment supplier Enphase Energy (NASDAQ: ENPH) popped 9.7%, Array Technologies (NASDAQ: ARRY) popped 25.8%, FTC Solar (NASDAQ: FTCI) jumped 33.8%, and Shoals Technologies Group (NASDAQ: SHLS) was up 26.8% at its high. The stocks ended the day up 5.4%, 18.8%, 31.5%, and 26.8%, respectively.

Image source: Getty Images.

Source Fool.com

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