Cazoo, Solarmax and Other 'Green' Stocks Rally Amid $7 Billion Biden Solar Plan

Jerry Kronenberg wrote a column · Apr 23 09:50

$Cazoo(CZOO.US)$, $SolarMax Technology(SMXT.US)$ and other "green" stocks rallied Tuesday, one day after President Biden unveiled a $7 billion program to bring solar power to low-income areas.

Cazoo – a micro-cap EV maker -- led the way higher, gaining 47.9% to $7.38 as of about 10:30 a.m. ET. Solarmax likewise rose 25% to $10 a share.

Other green stocks rallying as of 10:30 a.m. ET included:

-- $Zapp Electric Vehicles(ZAPP.US)$, a micro-cap electric-motor-cycle maker, which rose 23.7% to $5.49

-- EV firm $U Power(UCAR.US)$, 10.1% higher at $5.35

-- Solar firm $Sunrun(RUN.US)$, which gained 8.6% to $10.92

-- Greentech company $Bloom Energy(BE.US)$, which added 8.1% to $10.07

-- $NextEra Energy Partners LP(NEP.US)$, up 7.9% at $29.63 following well-received earnings before the bell

-- $Fluence Energy(FLNC.US)$, 7.7% higher at $16.90

The stocks rallied after Biden announced on Monday – which was Earth Day – a $7 billion plan to subsidize solar-power systems for around 1 million low-income homes.

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Jerry Kronenberg

Director of Financial Content

Former top editor at Seeking Alpha, Fidelity.com, TheStreet.com and UPI.

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