Why Alternative Energy Stocks Like First Solar and Uranium Energy Jumped on Wednesday
A solid day for the overall market was a great day for stocks found in the alternative energy sector. Shares of solar panel maker First Solar (NASDAQ: FSLR) rallied 15.2%, followed closely by Sunrun (NASDAQ: RUN) and Solar Edge (NASDAQ: SEDG), which ended the day's session 8.5% higher. Nuclear energy-related names like Cameco (NYSE: CCJ) and Uranium Energy (NYSEMKT: UEC) jumped as well, with the latter rising 11.9% during today's action.
The underlying prompt for the bullishness is the same in all cases, though. That is, U.S. Vice President and presidential hopeful Kamala Harris believes the nation's future energy needs will be met by a combination of sources including the ones these companies offer.
Without getting into any specifics, Vice President Harris painted a clear picture with her vision of America's future creation and consumption of energy. In Tuesday evening's presidential debate with former President Donald Trump, Harris commented "My position is that we have got to invest in diverse sources of energy so we reduce our reliance on foreign oil." She went on to tout that the Biden administration she works under has already invested $1 trillion in clean energy initiatives.
Source Fool.com
