Solar panels above a Brooklyn neighborhood overlooking Manhattan.
Jeff Morganteen | CNBC
(This story is for CNBC PRO subscribers only.)
Clean energy stocks jumped on Wednesday, accelerating its strong start to the year, after a 2020 record, with investors eyeing the results of the Georgia Senate runoff. President-elect Joe Biden has made the climate a central pillar of his agenda, and a possible Democratic-controlled Congress would make it easier to pass policies that support renewable energies.
Invesco Solar ETF gained more than 8% on Wednesday, while Invesco WilderHill Clean Energy ETF and iShares Global Clean Energy ETF each traded more than 6% more.
“Investors in this space seem to be focused on long-term scenarios more than at any time in recent years, which we believe may result in an even higher rise for stocks, despite probably little impact on short-term estimates,” he said JPMorgan on Wednesday. in a note to clients where the firm recommended staying in the sector for a long time.