Solar stocks are on the rise Thursday following President Joe Biden signing executive orders concerning the climate and environment.
Executive orders signed by the U.S. President today are designed to shift the country’s focus back to climate and green energy. This includes an executive order that will have the U.S. rejoining the Paris Climate Agreement.
President Biden also signed an order today bringing an end to the Keystone XL pipeline. To go along with this, the President is revoking several orders made by previous President Donald Trump that allow land development at select national wildlife monuments, reports CBS News.
President Biden’s actions today show that he is indeed making the environment and green energy one of his administration’s focuses. That lines up with promises made by him during his run for President of the United States.
That, in turn, is having a positive effect on several solar stocks. Those seeing gains today include SunPower (NASDAQ:SPWR), Maxeon Solar Technologies (NASDAQ:MAXN), Canadian Solar (NASDAQ:CSIQ), First Solar (NASDAQ:FSLR), Brookfield Renewable (NYSE:BEP), and Solaredge Technologies (NASDAQ:SEDG).
SPWR stock was up 17.4%, MAXN stock was up 4.9%, CSIQ stock was up 8.9%, FSLR stock was up 4.7%, BEP stock was up 2.2%, and SEDG stock was up 4.5% as of noon Thursday.
On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article.
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