Sunrun (RUN) Soars 10.6% as Rate Cut Sparks Rosy Prospects

We recently published Monstrous Gains: 10 Stocks Leaving Wall Street in the Dust. Sunrun Inc. (NASDAQ:RUN) is one of the best performers on Friday.

Shares of Sunrun jumped by 10.65 percent on Friday to end at $18.18 apiece as investors took path from the benefits of a potential rate cut in its business.

With the US central bank expected to officially implement a rate cut in its next Federal Open Market Committee meeting, market participants began positioning themselves on expectations that lower interest rates would pose as a tailwind for Sunrun Inc.’s (NASDAQ:RUN) business model, which heavily relies on financing to make its solar products more affordable to homeowners.

Additionally, Sunrun Inc. (NASDAQ:RUN) signaled earlier that lower borrowing expenses could help reduce expenses, expand customer adoption, and improve profit margins.

In the second quarter of the year,  Sunrun Inc.’s (NASDAQ:RUN) net income attributable to shareholders doubled to $279.77 million from $139.07 million in the same period last year, while total revenues grew by 8.6 percent to $569 million from $523.9 million year-on-year.

Subscriber count also increased by 15 percent or 28,823, bringing its total number of subscribers to 941,701 during the period.

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Disclosure: None. This article is originally published at Insider Monkey.