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Why Sunrun (RUN) Shares Are Sliding Today

November 06, 2024 at 15:09 PM EST

ⓘ This article is third-party content and does not represent the views of this site. We make no guarantees regarding its accuracy or completeness.

RUN Cover Image

What Happened?

Shares of residential solar energy company Sunrun (NASDAQ: RUN) fell 29.3% in the afternoon session after renewable energy stocks declined as Republican party candidate Donald Trump was declared the winner of the 2024 US presidential election.

For clean or renewable energy stocks, President-elect Trump is considered a headwind to their businesses. Specifically, his administration could lead to an overhaul of recent industry progress, including a repeal of President Biden’s Inflation Reduction Act. The IRA, as it's known, offers long-term tax credits for solar, wind, geothermal, and other renewable energy projects, often extending them for a decade. These tax credits offer stability and predictability, enabling companies to make long-term investment plans. For example, solar and wind energy developers benefit from a 30% investment tax credit (ITC), which can increase further if certain labor and domestic content standards are met.

The stock market overreacts to news, and big price drops can present good opportunities to buy high-quality stocks. Is now the time to buy Sunrun? Access our full analysis report here, it’s free.

What The Market Is Telling Us

Sunrun’s shares are extremely volatile and have had 74 moves greater than 5% over the last year. But moves this big are rare even for Sunrun and indicate this news significantly impacted the market’s perception of the business.

Sunrun is down 38.3% since the beginning of the year, and at $11.92 per share, it is trading 44.6% below its 52-week high of $21.50 from August 2024. Investors who bought $1,000 worth of Sunrun’s shares 5 years ago would now be looking at an investment worth $802.72.

When a company has more cash than it knows what to do with, buying back its own shares can make a lot of sense–as long as the price is right. Luckily, we’ve found one, a low-priced stock that is gushing free cash flow AND buying back shares. Click here to claim your Special Free Report on a fallen angel growth story that is already recovering from a setback.

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