SunPower shares are trading higher as high-short interest stocks gain amid the return of trader 'Roaring Kitty' to social media. Additionally, the Biden administration raised tariffs on Chinese solar panels.
Portfolio Pulse from Benzinga Newsdesk
SunPower shares are trading higher due to the return of trader 'Roaring Kitty' to social media and the Biden administration's decision to raise tariffs on Chinese solar panels. These factors are contributing to increased interest in high-short interest stocks, including SunPower.
May 14, 2024 | 11:14 am
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SunPower's stock is experiencing an uptick, influenced by the social media presence of a notable trader and new tariffs on Chinese solar panels by the Biden administration.
The return of 'Roaring Kitty' to social media likely boosts investor sentiment and interest in high-short interest stocks like SunPower. Additionally, the Biden administration's decision to increase tariffs on Chinese solar panels could be seen as beneficial for U.S.-based solar companies like SunPower by potentially reducing competition from cheaper imported panels. These factors combined suggest a positive short-term impact on SunPower's stock price.
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