Why Generac Stock Is Rising Today
Portfolio Pulse from Ryan Gustafson
Generac Holdings Inc. (NYSE:GNRC) shares are trading higher due to increased demand for backup generators in Texas, correlated to the strain on the state’s main electric grid due to intense heat. The company's shares hit a four-month high last week amid the Texas grid operator urging residents to conserve electricity to prevent blackouts. Shares of GNRC were up 9.11% at $142.95 at the time of publication.
June 27, 2023 | 6:15 pm
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Increased demand for Generac's backup generators in Texas due to intense heat and grid strain has led to a rise in the company's stock.
The increased demand for Generac's products due to the strain on Texas' electric grid has led to a rise in the company's stock. This is a direct result of the company's products being in high demand, which is likely to increase sales and revenue.
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