Senate Unveils Climate Change Bill, Solar Stocks Pop

The bill includes a host of clean energy incentives

Deputy Editor
Jul 28, 2022 at 9:54 AM
facebook twitter linkedin


The shares of Sunrun Inc (NASDAQ:RUN)Enphase Energy Inc (NYSE:ENPH), and First Solar, Inc. (NASDAQ:FSLR) are all sporting solid gains this morning, after Democratic Senator Joe Manchin and Senate Majority Leader Chuck Schumer unveiled a new $369 billion bill to battle climate change. Manchin, who holds a key swing vote in the Senate, previously withheld support for climate provisions, but agreed to the "Inflation Reduction Act of 2022," which includes a number of clean energy incentives.

At last check, Sunrun stock is up 32.9% to trade at $31.61. The equity has had a rocky year so far, falling to a May 12, two-year low of $16.80, with a subsequent rally rejected at the $31 level. Today's positive price action has RUN on track to close above the $30 level for the first time since April, though. Year-to-date, the security is still down 30.6%.

Meanwhile, ENPH boasts a more conservative 9.7% lead, seen trading at a fresh annual high of $279.44. The 100-day moving average has been supporting the equity since May, and longer term Enphase Energy stock sports an impressive 40.4% year-over-year lead.

Lastly, First Solar stock is up 16.3% at $89.26 at last glance, after earlier surging to its highest level since December while blasting through the 200-day moving average. Should this positive price action hold, FSLR could move comfortably above both its year-over-year and year-to-date breakeven levels.

 

 

 

These investors are using the market's volatility to their advantage and scoring triple-digit gains on many of their trades.

Even in today's sideways bear market, this trading strategy has continued to provide consistency and profitability to a small group of investors. By using this approach, these traders are removing directional risk and still hitting triple-digit returns. If you want access to this strategy, and lower risk with higher returns sounds good to you, then don't wait another minute.

Join us now to receive our next trades the moment they come out!

 

Common mistakes options traders make
 


 


 
Special Offers from Schaeffer's Trading Partners