Solar stocks may have found a bottom.
With a good deal of negativity priced into solar names, and hopeful rate cuts from the Federal Reserve, solar stocks are moving aggressively higher.
Analysts at Truist just upgraded Sunnova (NOVA) and Enphase (ENPH) to a buy rating, noting that, “While we’ve surely not seen the end of volatility in the group, we see meaningful upside opportunity moving into the fed rate cut cycle particularly for the resi solar group, while we see incremental downside risk to more nascent industries like hydrogen/fuel cells. With our 2024 outlook we update our thoughts/ests for the group, u/g NOVA & ENPH to Buy,” as quoted by CNBC.
Other big solar names are going along for the ride, too.
First Solar (FSLR), for example, is up about $6.50 at the moment. Canadian Solar (CSIQ) is up about $4.30. Even the Invesco Solar ETF (TAN) is up about $2 on the day.
![🧐 In this video, Dylan discusses a recent Bloomberg article that sheds light on the hidden dynamics within the crypto market.
[Bloomberg Article - https://www.bloomberg.com/news/articles/2024-05-15/crypto-deals-kol-investors-get-big-valuation-discounts]
From influencers to financial gurus, many key opinion leaders (KOLs) are being paid handsomely to promote certain cryptocurrencies, often leading to classic pump-and-dump schemes.
🚨 Buyer Beware: If you're investing in crypto, it's crucial to understand the game being played. As Dylan's grandfather used to say, "If you don't know who the patsy at the table is, you're the patsy." This timeless advice is more relevant than ever in today's volatile crypto landscape.
📈 Whether you're a seasoned investor or new to the crypto space, this video offers essential insights to help you navigate these murky waters. Dylan is not here to debate the legitimacy or utility of cryptocurrencies but to ensure you are aware of the tactics used to manipulate the market.
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