Why Solar Energy Stocks Jumped on Monday
Solar energy stocks started the week off on a hot streak with several jumping by double-digit percentages on Monday. Manufacturer Canadian Solar (NASDAQ: CSIQ) jumped by as much as 12.6%, while supplier Enphase Energy (NASDAQ: ENPH) was up 7.8%, developer ReneSola (NYSE: SOL) rose 10.3%, and residential and commercial developer SunPower (NASDAQ: SPWR) was up 11.8% at its peak. Those stocks closed the day up 12.5%, 7.4%, 8.7%, and 11.8% respectively.
Solar stocks have gone through some big, volatile swings over the past year. But during the past week, they have moved sharply higher in unison. Some of that may stem from momentum trading, but there has been some good news around the industry as well.
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Source Fool.com
