Cazoo, Solarmax and Other 'Green' Stocks Rally Amid $7 Billion Biden Solar Plan

Jerry Kronenberg wrote a column · Apr 23 09:50

$Cazoo (CZOO.US)$, $SolarMax Technology (SMXT.US)$ and other "green" stocks rallied Tuesday, one day after President Biden unveiled a $7 billion program to bring solar power to low-income areas.

Cazoo – a micro-cap EV maker -- led the way higher, gaining 47.9% to $7.38 as of about 10:30 a.m. ET. Solarmax likewise rose 25% to $10 a share.

Other green stocks rallying as of 10:30 a.m. ET included:

-- $Zapp Electric Vehicles (ZAPP.US)$, a micro-cap electric-motor-cycle maker, which rose 23.7% to $5.49

-- EV firm $U Power (UCAR.US)$, 10.1% higher at $5.35

-- Solar firm $Sunrun (RUN.US)$, which gained 8.6% to $10.92

-- Greentech company $Bloom Energy (BE.US)$, which added 8.1% to $10.07

-- $NextEra Energy Partners LP (NEP.US)$, up 7.9% at $29.63 following well-received earnings before the bell

-- $Fluence Energy (FLNC.US)$, 7.7% higher at $16.90

The stocks rallied after Biden announced on Monday – which was Earth Day – a $7 billion plan to subsidize solar-power systems for around 1 million low-income homes.

Disclaimer: Community is offered by Moomoo Technologies Inc. and is for educational purposes only. Read more

Translate

Report

21K Views

Comment

Jerry Kronenberg

Director of Financial Content

Former top editor at Seeking Alpha, Fidelity.com, TheStreet.com and UPI.

559Followers

543Following

3005Visitors