The Big Reason SunPower Stock Is Surging Today

·2 min read
The Big Reason SunPower Stock Is Surging Today

With SunPower shares also languishing this year, today's big event was the perfect incentive for investors to jump into the stock. SunPower shares were up 8.5% at 11:10 a.m. EDT after popping 11.7% in early-morning trading. After market close Tuesday, Enphase Energy released a stunner of a third-quarter earnings report: Its revenue nearly doubled year over year to hit a record quarterly high of $351.5 million, driven by strong demand for microinverters and a 51% jump in its storage systems shipment.

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