U.S. solar stocks experienced a significant rise following the imposition of new tariffs, reaching up to 3,521%, on solar products imported from four Southeast Asian countries. This development led to notable gains in several solar companies' stock prices.
First Solar saw its stock (FSLR, Financial) increase by 9.9%, while Sunnova Energy's shares (NOVA) jumped 11%. SolarEdge Technologies (SEDG) rose by 9.3%, Maxeon Solar Technologies (MAXN) gained 7.5%, Enphase Energy (ENPH) climbed 4.5%, and Array Technologies (ARRY) advanced by 2.9%.
Cowen analyst John Miller noted in a report to clients that although a positive final ruling was widely anticipated, the extent of the tariffs was unexpected.
