Why Solaredge Technologies Was Soaring on Friday

The sun was shining brightly on Solaredge Technologies (NASDAQ: SEDG) stock as the trading week came to a close on Friday. Investors piled into the stock on news that an important group of energy consumers were lobbying the government to maintain the existing rules for clean energy subsidies.

Solaredge's share price swelled by more than 17% as a result, providing a night-and-day contrast to the benchmark S 500 index's 0.3% decline.

On Friday, an industry association called The Data Center Coalition formally asked U.S. Treasury Secretary Scott Bessent to uphold the existing framework under which wind and solar projects receive federal subsidies.

Source Fool.com