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Government laws and investments have given a push to the renewable energy sector in the U.S. Renewable energy accounted for 25% of the country's total energy in the first half of 2023, making it a record-breaking year for the industry. The government is making significant commitments and setting aside funds to expand the sector.
In the latest trading session, First Solar (FSLR) closed at $262.37, marking a +0.4% move from the previous day.
Shares are on fire, but have they gone too far?
The global shift towards renewables is accelerating, making the case for the top renewable energy stocks to buy in 2024. With global efforts to combat climate change, investments in renewable energy technologies are not only environmentally prudent but also financially promising.
After a solid earnings season where S&P 500 earnings grew 5.9% year-over-year, markets remain in excellent shape. At the same time, the economy is chugging along with no signs of recession in sight.
First Solar (FSLR) reachead $273.45 at the closing of the latest trading day, reflecting a +0.14% change compared to its last close.
The downgraded stocks continue to trade near record highs despite the recent pressure from rising bond yields. Investors were digesting the U.S. Commerce Department's report last week, which indicated that the U.S. economy's first-quarter growth was slower than initially estimated.
Renewable energy stocks broadly have been consistent underperformers over the past year. According to Koyfin, the iShares Global Clean Energy ETF (NASDAQ: ICLN ), which holds more than $2.4 billion worth of renewable energy stocks, plummeted 20.4% in 2023, while the rest of the U.S. equities market enjoyed a sizable rally.
Several consecutive 13-f filings made by Michael Burry's Scion Asset Management revealed a string of seemingly unprofitable trades.
Zacks.com users have recently been watching First Solar (FSLR) quite a bit. Thus, it is worth knowing the facts that could determine the stock's prospects.
Two of the world's biggest solar panel makers, First Solar and Hanwha Qcells, became the first to register products under an environmental ratings system preferred for U.S. government purchasing, an industry group said.