Markets reacted to Tuesday evening’s U.S. Presidential debate by betting that the Democrats would win. In response, clean energy stocks rose.
Investors piled onto First Solar (FSLR) stock. The stock gained 15.19% yesterday, closing at $239.84. Enphase Energy (ENPH), Sunrun (RUN), and SolarEdge Technologies (SEDG) joined the rally. However, FSLR stock has the strongest prospects and the best value at this time.
After a prolonged sell-off, lithium mining stocks jumped, led by Albemarle (ALB). After gaining 13.58% to close at $89.30, cautious investors should not chase the stock today. The firm does not offer growth or healthy profitability. Furthermore, the stock momentum is still weak.
Lithium mining stocks gained on a report that China’s CATL, the biggest supplier of EV batteries, may suspend some of its lithium mining activities.
Considered one of the most expensive artificial intelligence stocks, Arm Holdings (ARM) added 10.30% to close at $140.32. Again, investors should not chase the stock after the rally. Morgan Stanley picked Arm stock as benefiting from the emerging Edge AI opportunity.
ARM stock faces selling resistance at over $140 (at the 50-day simple moving average). The stock also benefited from an abrupt positive sentiment shift for Nvidia (NVDA). NVDA stock gained 8.15% on Tuesday. CEO Jensen Huang said on August 28, 2024, that the company has a $1 trillion opportunity from the shift to generative AI.
