Why Solar Energy Stocks Jumped Today

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.

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Source Fool.com