Nextracker CEO says 'solar is unstoppable' as market sees 'unprecedented demand growth'
Publishing timestamp: 2024-02-02 18:44:53
Summary
Nextracker's stock soared after the company reported earnings that beat expectations by a wide margin. The company manufactures systems for solar panels to track the direction of the sun. Nextracker is outperforming the solar industry and has a positive outlook due to the growing demand for solar power. The company's stock closed nearly 25% higher and it has raised its revenue forecast for fiscal 2024. However, there are potential headwinds from rising geopolitical risks and the upcoming presidential election. Nextracker has also been affected by shipping disruptions and drought.
Sentiment: POSITIVE
Keywords: nextracker inc, guggenheim solar etf, business news, climate, solar power,