Yesterday President Biden announced a two-year tariff exemption for solar panels made in four southeast Asian countries…
And right away we had some solar and alternative energy names spiking. Now, I don't know if Biden can get anyone excited about anything … But if the energy headlines continue, like the one the Breaking News Chat team alerted yesterday…
And if we see more government money injected into these alternative energy sectors, we could see a hot summer sector…
But just like any of my watchlists, none of these stocks are recommendations to buy — at least not yet … But summer is just warming up!
So keep your eyes on the news flow, do your own research, and wait for a pattern before trading any of these stocks...
Pineapple Energy Inc. (NASDAQ: PEGY) is in the solar sector. Ithas a disgusting and ugly long-term chart. But it has a low float of roughly 4 million shares. It could get interesting if the solar and alternative energy headlines catch some steam and volume comes in. Yesterday, it spiked roughly 40% after Biden's announcement.
Sunworks, Inc. (NASDAQ: SUNW) was another solar stock up over 15% on the Biden headlines. It has a lowish float of around 28 million shares. And it's a former runner from the last solar stock run in early 2021.
But not only did Biden announce the tariff exemption yesterday, he also announced he's "authorizing the use of the Defense Production Act (DPA) to accelerate domestic production of clean energy technologies." That could be good news for other alternative energy stocks like fuel cell technology…
Plug Power Inc. (NASDAQ: PLUG) is one of the companies that could benefit. But don't be fooled by its price point … I used to laugh at it years ago when the company would announce a PR and it'd spike. It would always inevitably fail. But during the crazy 2020 market, PLUG became a favorite alternative energy play and hit highs of $75 in January 2021. It has a larger float and it could be full of bag holders, so watch for massive volume for this one to get going.
FuelCell Energy, Inc. (NASDAQ: FCEL) was another alternative energy play favorite in late 2020 and early 2021. It went from roughly $2 to almost $30 in a few months. It has a massive float thanks to the company diluting the stock. But it's lower priced than PLUG, so if volume comes in, it could get squeezy.
Now, none of these stocks are breaking out right now. So I'd make a watchlist on StocksToTrade and keep them on your radar as we head into summer.
Have a great day my friends. See you back here tomorrow.
(As an Amazon Associate, we earn from qualifying purchases.)
13809 Research Boulevard, Suite 500, Austin, TX 78750
*Please note that these kinds of trading results are not typical. Most traders lose money. It takes years of dedication, hard work, and discipline to learn how to trade, and individual results will vary. Trading is inherently risky. Before making any trades, remember to do your due diligence and never risk more than you can afford to lose.
This is for informational purposes only as StocksToTrade is not registered as a securities broker-dealer or an investment adviser. No information herein is intended as securities brokerage, investment, tax, accounting or legal advice, as an offer or solicitation of an offer to sell or buy, or as an endorsement, recommendation or sponsorship of any company, security or fund.
StocksToTrade cannot and does not assess, verify or guarantee the adequacy, accuracy or completeness of any information, the suitability or profitability of any particular investment, or the potential value of any investment or informational source. The reader bears responsibility for his/her own investment research and decisions, should seek the advice of a qualified securities professional before making any investment, and investigate and fully understand any and all risks before investing.
StocksToTrade in no way warrants the solvency, financial condition, or investment advisability of any of the securities mentioned in communications or websites. In addition, StocksToTrade accepts no liability whatsoever for any direct or consequential loss arising from any use of this information. This information is not intended to be used as the sole basis of any investment decision, should it be construed as advice designed to meet the investment needs of any particular investor. Past performance is not necessarily indicative of future returns.
Post a Comment
0Comments