Story Stocks^®

Solar stocks are under notable pressure today. We are not seeing any company-specific that would explain the weakness today. We think the weakness may be attributable to some disappointment with respect to the stimulus bill, which passed the Senate earlier this week and passed the House this afternoon.

Solar stocks were bid up on Tuesday-Thursday with excitement for what the stimulus bill would mean for solar stocks. However, now that investors have been digesting the actual text from the bill, it does not contain money specifically earmarked for the renewable energy industry.

While solar companies can apply for loans just like any other business, the bill does not include the tax credit extensions and direct pay provisions sought by the renewable energy industry. As a result, investors are locking in their profits on the recent move in solar stocks.

Notable movers:

• SunPower (SPWR 5.52, -0.87, -14%): Entering today, up 30% since Mar 18
• Sunrun (RUN 10.96, -1.42, -12%): Entering today, up 39% since Mar 18
• Canadian Solar (CSIQ 15.76, -1.66, -10%): Entering today, up 29% since Mar 18
• Enphase Energy (ENPH 33.22, -2.91, -8%): Entering today, up 51% since Mar 18
• SolarEdge Tech (SEDG 84.17, -6.28, -7%): Entering today, up 18% since Mar 18
• First Solar (FSLR 35.83, -1.79, -5%): Entering today, up 25% since Mar 18