President Trump slammed wind and solar on Truth Social, dragging solar stocks lower
The solar sector is taking a beating today, after President Donald Trump announced on Truth Social that the U.S. will not approve wind or solar projects, blaming the renewables for high electricity and energy costs. Focusing in on a few of these energy names, First Solar Inc (NASDAQ:FSLR), Canadian Solar Inc (NASDAQ:CSIQ), and Sunrun Inc (NASDAQ:RUN) are all firmly lower today.
First Solar stock was last seen down 6.6% at $192.78, though former pressure at the 320-day moving average lingers below as a potential layer of support. Since the start of the year, FSLR is still up 9.5%.
Canadian Solar stock is one of the worst performers on the Nasdaq today, last seen down 18.4% at $10.40 and slipping into negative territory for 2025. Worse-than-expected second-quarter earnings results and a slashed full-year outlook are also weighing on the equity. On the plus side, the $10 level appears to be keeping losses in check.
RUN was down 5.3% at $14.64 at last glance, heading for its third-straight drop after surging to a new 2025 peak. Since the start of the year, the stock is outperforming its peers with a 57.9% lead.
Options bears are taking a flier on solar, too. FSLR is seeing quadruple the intraday average put volume, with the most activity at the weekly 8/22 202.50-strike put, while CSIQ is seeing eight times the put volume typically seen at this point, with new positions being sold to open at the weekly 8/22 11-strike call.