Why Solar Energy Shares Jumped and Plunged, All in One Day

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Solar energy stocks had a strange day Thursday, to say the least, with some up big and others dropping like a rock. Most notably, Enphase Energy‘s (NASDAQ: ENPH) shares were up as much as 9.3% before closing up 8.2%. ReneSola (NYSE: SOL) was up 3.9% to start the day only to drop to a 19.1% loss before ending the day down 10.5%. SunPower (NASDAQ: SPWR) was also up 1.3% at one point before falling 13.5% and eventually finishing 1.1% higher for the day. 

Investors should be used to volatility in solar stocks right now, but these violent swings are out of the ordinary. Shares of small-cap stocks like this have not only been the target of short-sellers recently, they’ve also been mentioned as potential short-squeeze candidates, which can make shares very volatile in the short term. 

Image source: Getty Images.

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