Why These Energy Stocks Are Losing This Week

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1. Sunrun Inc. (NASDAQ:RUN

Share Price Decline Between June 10 – June 17: 34.76%

Topping our list of Energy Stocks Losing the Most This Week is Sunrun Inc. (NASDAQ:RUN), America’s leading provider of clean energy as a subscription service, offering residential solar and energy storage with no upfront costs.

Sunrun Inc. (NASDAQ:RUN) crashed to a 5-year low this week after Senate Republicans detailed revisions to the House’s tax-and-spending bill that included fully phasing out wind- and solar-tax credits entirely by 2028, in contrast to the original expiry date of 2032, according to the current law.

The proposed legislation also ends credits by around the end of this year for the already reeling residential solar industry, dealing a major blow to companies like Sunrun Inc. (NASDAQ:RUN) that lease rooftop solar systems as well as homeowners who buy them outright.

As a result, KeyBanc analyst Sophie Karp downgraded Sunrun Inc. (NASDAQ:RUN) from ‘Sector Weight’ to ‘Underweight’, while also reducing its price target to $6 per share.

While we acknowledge the potential of RUN to grow, 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 RUN and that has 100x upside potential, check out our report about this cheapest AI stock.

READ NEXT: 10 Best Nuclear Energy Stocks to Buy Right Now and 15 Best Large Cap Energy Stocks to Buy According to Hedge Funds

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