3 Solar Stocks That Wall Street Likes Better Than SunPower

In a bold move, the Biden administration recently revealed its plans to double the import tax on Chinese solar cells, lifting it from 25% to 50%. This strategic decision is part of a broader package of tariff hikes the White House says will safeguard American industries from unfair competition and empower them to scale up their capacity, and it’s also the latest salvo in the increasingly chilly trade tensions between Washington and Beijing that have impacted industries from steel to semiconductors.

With the increasing momentum behind solar energy, this major development has sparked notable investor interest in solar stocks. Coupled with Wall Street’s briefly revived interest in meme stocks, solar industry player SunPower Corporation (SPWR) benefited the most from this news, with its shares experiencing an impressive surge.