Renewable Energy Sector Shines Bright
Good morning Wake-Up Watchlisters! While you’re sipping that peanut butter banana smoothie you’ll see stock futures rose on Monday amid optimism surrounding Beijing’s latest move to ease COVID restrictions. While news around China’s potential economic activity is welcome, short-term volatility will likely persist according to Diana Mousina, a senior economist at AMP Capital.
With more up and down swings likely in store, one of the best ways to win in the current markets is with a ‘Win Both Ways’ trade. We’ve had War Room members make as much as $5,000 in less than 10 minutes with this strategy! Click here to learn more.
Here’s a look at the top-moving stocks this morning.
SunRun (Nasdaq: RUN)
SunRun is up 9.04% premarket as the solar sector continues to boom. Per the latest energy report from the U.S. Energy Information Administration, the utility-scale solar generation from June to August 2022 is estimated to increase by 10 million megawatt hours compared with the same period last summer. Also, the electric power sector is expected to increase its solar capacity by 31% this month. Keep an eye on SunRun going forward.
Shoals (Nasdaq: SHLS)
Shoals is up 8.85% premarket as the solar equipment company is seeing higher revenue numbers. The company’s revenue jumped 49% year-over-year to $68 million. US President Joe Biden also announced he will declare a 24-month tariff exemption from four Southeast Asian nations. As the demand for solar products remains strong, Shoals is also looking strong.
ON Semiconductor Corp. (Nasdaq: ON)
ON Semiconductors is up 7.48% premarket as analysts have rapidly increased their earnings outlook for the microchip company over the last 60 days. The Consensus Estimate Trend has climbed 21% for the upcoming quarter. While microchip companies like ON struggled early in 2022 due to supply chain issues, demand remains high as its microchips continue to provide functionality to mobile devices, vehicles and computers. Keep an eye on ON going forward.
VICI Properties (NYSE: VICI)
VICI Properties is up 8.95% premarket as investors seek a safe haven in dividend stocks. VICI Properties is offering a dividend yield of 4%. The real estate company also just declared an annualized rate of $1.44, that gives the dividend a yield of 4.9%. With more than 450 restaurants and 43 gaming locales, it’s worth keeping an eye on VICI Properties as more people start traveling again this summer.
Do Your Stocks Meet These 5 Success Factors?
As the fed stops printing unlimited money and interest rates rise, there will be a new set of criteria for successful stocks going forward. Our Head Trading Fundamental Karim Rahemtulla breaks down the 5 most important factors for success in the markets going forward. Click here to read more.
Those are the top market movers today.
Happy trading!
The Wake-Up Watchlist Research Team