In this article we will take a look at the some of notable stocks that surged today. You can skip our detailed analysis of these stocks and go to read Why These 5 Stocks Surged on Wednesday.
Although the Dow Jones and the S&P 500 both decreased on Wednesday, several stocks surged higher. Among the stocks that rallied include Juniper Networks, Inc. (NYSE:JNPR), Teradyne, Inc. (NASDAQ:TER), First Solar, Inc. (NASDAQ:FSLR), SunPower Corporation (NASDAQ:SPWR), Tesla, Inc. (NASDAQ:TSLA), Amazon.com, Inc. (NASDAQ:AMZN), and F5 Networks, Inc. (NASDAQ:FFIV). Let’s find out why each stock rose and how elite funds were positioned among them.
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10. First Solar, Inc. (NASDAQ:FSLR) rose 1.18% due to the increase in solar specialist Enphase Energy’s stock. Because Enphase Energy rose almost 25% on strong growth and strong growth outlook, some investors are more bullish on other solar stocks such as First Solar, Inc. (NASDAQ:FSLR). First Solar shares are up almost 9% year to date. Ken Griffin’s Citadel Investment Group owned both puts and calls on First Solar, Inc. (NASDAQ:FSLR) at the end of June.
9. SunPower Corporation (NASDAQ:SPWR) surged almost 5% also due to the rally in Enphase Energy on Wednesday. Not only is SunPower Corporation (NASDAQ:SPWR) a solar company that could benefit if sector demand is stronger, but also SunPower also owns some of Enphase Energy’s stock. D E Shaw was long more than 3.19 million shares of SunPower Corporation (NASDAQ:SPWR) at the end of Q2.
8. Tesla, Inc. (NASDAQ:TSLA) is up 1.9% due to technical trading. Although Tesla, Inc. (NASDAQ:TSLA) will have to grow its profits substantially in the future to justify its current valuation, the company has done well in 2021 with a year to date rally of 42%. Billionaire Elon Musk owns substantial shares in Tesla, Inc. (NASDAQ:TSLA).
7. Amazon.com, Inc. (NASDAQ:AMZN) rose 0.49% as investors position themselves for the company’s upcoming earnings report on Thursday. Because Amazon.com, Inc. (NASDAQ:AMZN) is both an e-commerce and cloud powerhouse, growth in both areas will be important. Billionaire Jeff Bezos owns substantial shares in Amazon.com, Inc. (NASDAQ:AMZN).
6. F5 Networks, Inc. (NASDAQ:FFIV) surged 5.94% after the company reported adjusted EPS of $3.01 on sales of $682 million. Revenue rose by 11.1% and F5 Networks, Inc. (NASDAQ:FFIV) expects sales growth of 8% to 9% for FY22. Jim Simons’ Renaissance Technologies was long 1.899 million shares of F5 Networks, Inc. (NASDAQ:FFIV) at the end of June.
Like First Solar, Inc. (NASDAQ:FSLR), SunPower Corporation (NASDAQ:SPWR), Tesla, Inc. (NASDAQ:TSLA), Amazon.com, Inc. (NASDAQ:AMZN), and F5 Networks, Inc. (NASDAQ:FFIV), Juniper Networks, Inc. (NYSE:JNPR), and Teradyne, Inc. (NASDAQ:TER) are also rising.
Click to continue reading and see Why These 5 Stocks Surged on Wednesday.
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Disclosure: None. Why These 10 Stocks Surged on Wednesday is originally published on Insider Monkey.
