Trading News
Jun. 6, 20224 min read

Did Biden just ignite alternative energy plays?

Tim BohenAvatar
Written by Tim Bohen

With skyrocketing inflation and oil prices, energy is a hot topic… 

It’s hitting people in the wallet hard. 

And that gets them riled up. They want to blame oil companies, the government, anyone really… 

But while some people complain, others are looking for alternatives…

And President Biden just gave traders more than one reason to watch solar and alternative energy stocks… 

Will traders get excited enough to heat this sector up? 

Time will tell. But as we head into summer heat waves and soaring demand for A/C, this could be the hot sector of the summer…

Keep up with all the hottest plays with me daily right here!

Watch This HOT Summer Sector 

Yesterday President Biden announced a two-year tariff exemption for solar panels made in four southeast Asian countries…

And right away we had some solar and alternative energy names spiking. Now, I don’t know if Biden can get anyone excited about anything … But if the energy headlines continue, like the one the Breaking News Chat team alerted yesterday… 

And if we see more government money injected into these alternative energy sectors, we could see a hot summer sector… 

But just like any of my watchlists, none of these stocks are recommendations to buy — at least not yet … But summer is just warming up! 

So keep your eyes on the news flow, do your own research, and wait for a pattern before trading any of these stocks…  

  • Pineapple Energy Inc. (NASDAQ: PEGY) is in the solar sector. It has a disgusting and ugly long-term chart. But it has a low float of roughly 4 million shares. It could get interesting if the solar and alternative energy headlines catch some steam and volume comes in. Yesterday, it spiked roughly 40% after Biden’s announcement. 
  • Sunworks, Inc. (NASDAQ: SUNW) was another solar stock up over 15% on the Biden headlines. It has a lowish float of around 28 million shares. And it’s a former runner from the last solar stock run in early 2021. 

But not only did Biden announce the tariff exemption yesterday, he also announced he’s “authorizing the use of the Defense Production Act (DPA) to accelerate domestic production of clean energy technologies.” That could be good news for other alternative energy stocks like fuel cell technology…

  • Plug Power Inc. (NASDAQ: PLUG) is one of the companies that could benefit. But don’t be fooled by its price point … I used to laugh at it years ago when the company would announce a PR and it’d spike. It would always inevitably fail. But during the crazy 2020 market, PLUG became a favorite alternative energy play and hit highs of $75 in January 2021. It has a larger float and it could be full of bag holders, so watch for massive volume for this one to get going. 
  • FuelCell Energy, Inc. (NASDAQ: FCEL) was another alternative energy play favorite in late 2020 and early 2021. It went from roughly $2 to almost $30 in a few months. It has a massive float thanks to the company diluting the stock. But it’s lower priced than PLUG, so if volume comes in, it could get squeezy. 

Now, none of these stocks are breaking out right now. So I’d make a watchlist on StocksToTrade and keep them on your radar as we head into summer. 

Have a great day my friends. See you back here tomorrow.

Tim Bohen

Lead Trainer, StocksToTrade