Why Enphase Energy, Inc. (ENPH) Surged On Friday

We recently published a list of Investors Rushed Into These 10 Stocks Today. In this article, we are going to take a look at where Enphase Energy, Inc. (NASDAQ:ENPH) stands against other Friday’s best-performing.

Enphase Energy grew its share prices by 5.48 percent on Friday to finish at $41.39 apiece as investors snapped up shares following news that President Donald Trump’s “One Big, Beautiful Bill Act” (OBBBA) is now raising opposition from the minority in the Senate.

Having hurdled the House of Representatives last week, the OBBBA seeks to secure historic tax cuts, deficit reduction, and border security, among others.

However, it would also result in millions of Americans stripped of existing benefits, including healthcare and solar tax credits, with the bill looking to end tax credits for clean energy sources as early as end-2025.

A solar panel array stretched across a large open field, its glimmering panels reflecting the sun.

The move sparked fears among investors that the bill, if passed into law, could significantly raise prices of solar products, dampen demand, and dent profit margins of clean energy producers, including Enphase Energy, Inc. (NASDAQ:ENPH).

In the first quarter of the year, Enphase Energy, Inc. (NASDAQ:ENPH) swung to a net income of $29.7 million from a $16-million net loss in the same period last year.

Revenues increased by 35 percent to $356 million from $263 million year-on-year.

Overall, ENPH ranks 7th on our list of Friday’s best-performing. While we acknowledge the potential of ENPH, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than ENPH and that has 10,000x upside potential, check out our report about this cheapest AI stock.

READ NEXT: 20 Best AI Stocks To Buy Now and 30 Best Stocks to Buy Now According to Billionaires.

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