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Renewable Energy Stocks on the Run; SunPower (NASDAQ: SPWR), FuelCell Energy (NASDAQ: FCEL), Plug Power (NASDAQ: PLUG)


May 15, 2024 ( Newswire), a go-to platform for big investing ideas, reports on trading on cleantech and renewable energy stocks for May14th.

SunPower (NASDAQ:SPWR) , a leading residential solar, storage and energy services provider in North America closed a $4.3900, up $1.6400 gaining +59.6364% on volume of over 136 Million shares . With no news out from the company or industry push, traders are asking is this another meme stock run or short covering. The volume was substantially higher than the average 6 million shares.

FuelCell Energy (Nasdaq: FCEL). a global leader in sustainable clean energy technologies that holds more than 450 fuel cell technology patents in the United States and globally, traded at 0.8840, up 0.1708, gaining 23.9484% on volume of over 129 Million compared to 23 Million shares. The most recent news for the stock was May 2nd.

Plug Power Inc. (NASDAQ: PLUG), a global leader in comprehensive hydrogen solutions for the green hydrogen economy was up on news that they received a conditional commitment for an up to $1.66 billion loan guarantee from the Department of Energy's ("DOE") Loan Programs Office ("LPO") to finance the development, construction, and ownership of up to six green hydrogen production facilities.

The production facilities, which will be selected for financing in accordance with procedures to be set forth in definitive documentation with DOE, will be built across the nation and supply major companies, including Plug's existing customers, with low-carbon, made-in-America green hydrogen. The hydrogen generated will be used in applications in the material handling, transportation, and industrial sectors.

The stock closed at $3.4400, rising 0.5500, up 19.0311%. The stock continued gains in after- hours trading. The stock traded over 200 Million shares compared to its average of 33 Million shares.

With a lot of green on the board for renewable energy stocks - traders ask is run for real and will the gains continue? And what and who is driving this rally?

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