Why Solar Stocks Jumped Double-Digits Today

Shares of solar stocks jumped big on Friday after two positive earnings reports. Investors have been wondering how far the solar industry's demand had fallen in the second quarter of 2020 and the answer may be that it actually grew. 

First Solar (NASDAQ: FSLR) and Canadian Solar (NASDAQ: CSIQ) were the two who reported earnings and their shares climbed as much as 21.8% and 13.1%, respectively, in early trading. At 12:15 p.m. EDT shares were still up 12.1% and 7.6%, respectively, on the day. 

Neither Enphase Energy (NASDAQ: ENPH) nor SunPower (NASDAQ: SPWR) reported earnings today, but they followed the move by First Solar and Canadian Solar. Enphase's shares jumped as much as 6.2% and are now up 1.3% while SunPower's rose up to 10.5% and are currently trading 4.6% higher. 

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Source Fool.com