Solar and other clean energy stocks have been hammered after the election of Donald Trump last week.
The fluctuations represent a significant market reaction to the political shift towards policies favouring fossil fuels over renewable energy sources.
Stock prices for companies in the solar and wind energy sectors dropped sharply following Trump’s win.
First Solar Inc (NASDAQ: FSLR) fell over 10 per cent in early trading, while other solar companies like Enphase Energy Inc (NASDAQ: ENPH) and Sunrun Inc (NASDAQ: RUN) also experienced significant declines.
This sell-off stemmed from Trump’s campaign rhetoric against renewable energy, especially his promise to terminate the Inflation Reduction Act (IRA), which he referred to as the “Socialist Green New Deal.”
ETFs like the Invesco Solar ETF (NYSEARCA: TAN) and iShares Global Clean Energy ETF (NASDAQ: ICLN) lost value, with declines of around 10 per cent and 8 per cent,…
