Why Investors Were So Fired Up About First Solar Stock on Friday

The solar industry has struggled mightily for years to achieve meaningful growth and post net profits. During the Biden administration, the green energy sector as a whole received something of a break in the 2022 Inflation Reduction Act, with a slew of tax incentives for building out alternative-energy solutions. In its attempt to reverse this, President Donald Trump has tasked his administration to make the current subsidies harder to obtain. Thankfully for green energy companies, a theoretically influential lobbying group stepped in on Friday to push back against this effort. Numerous solar stocks popped on the news, including First Solar (NASDAQ: FSLR), which rose a sturdy 11% by market close.The business grouping behind Friday's pushback is the Data Center Coalition. News broke that the coalition sent a formal request to Treasury Secretary Scott Bessent to maintain the subsidy policy as it is, rather than changing it.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool