Three stocks shined on Monday trade to start the week. Enphase Energy (ENPH), whose shares traded at around $125 in late summer, gained 8.48% to close at $71.91.
Two members of the U.S. House proposed to suspend the 45X advanced manufacturing production tax credit. The legislation would prevent Chinese firms from getting this credit. ENPH stock rallied alongside firms like Solaredge (SEDG), Array Technologies (ARRY), and First Solar (FSLR).
Super Micro Computers (SMCI), which traded as high as $122.90 earlier this year, added another 15.87% on Monday. The stock is now up by $18, since trading at around $25 on November 20, 2024. Traders are betting on a short squeeze, where bears hold a 16.23% short interest. They are relying on SMCI to hire an auditor. The firm must file a quarterly and annual report to prevent a delisting.
Bath & Body Works (BBWI) gained 16.51%, breaking out of its $30.00 consolidation price. The company reported a non-GAAP EPS of $0.48. Revenue increased by 3.2% Y/Y to $1.61 billion. For the current quarter, the firm expects revenue to fall by up to 6.5%. In addition, it expects Q4 EPS of up to $2.07, which is above the consensus estimate of $1.97.
BBWI trades at near its fair value of $33.43. The stock still has good value and quality, along with fair growth prospects.
