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Why Sunrun's Shares Jumped 86.1% in July

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Why Sunrun's Shares Jumped 86.1% in July

Shares of Sunrun (NASDAQ: RUN) jumped 86.1% in July, according to data from S&P Global Market Intelligence, after agreeing to buy competitor Vivint Solar. Shares have continued to move higher in August, climbing 25.4% in the first full week of trading.

Sunrun is acquiring Vivint Solar in exchange for Sunrun stock at an exchange rate of 0.55 shares for each Vivint Solar share. The deal will combine the two biggest residential solar installers into one renewable energy giant.

Image source: Getty Images.

Source Fool.com

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