SunEdison (SUNE) stock was torched Tuesday after TerraForm Power (TERP) activist investor Appaloosa Management demanded to see the parent company’s books ahead of its Vivint Solar (VSLR) acquisition. And in other solar news, SolarCity (SCTY) and Vivint Solar stocks lurched lower after the installers threatened to exit Nevada should the state opt to slash net-metering payments to solar customers. In morning trading on the stock market today,
Tesla Motors (TSLA) stock powered up 6.1% Wednesday as an energy pact by Congress looked set to extend a key solar energy subsidy in a vote later this week, benefiting the electric car maker’s Tesla Energy stationary battery division. Congressional leaders agreed to an omnibus spending bill that extends the solar investment tax credit (ITC) for another five years; the news lifted the solar sector Wednesday, with SolarCity (SCTY), the installer
Solar-related stocks rallied Wednesday on the news that Congress plans to extend a solar investment tax credit by five years. First Solar (FSLR), SolarCity (SCTY), SunEdison (SUNE), SunPower (SPWR) and Sunrun (RUN) led the gains. Not only are their double-digit share-price increases substantial, they’re also significant: First Solar jumped 10% in big volume, gapping above a 59.95 buy point and hitting its highest level in 15 months. SolarCity