Tesla, Bloom Energy stocks get an Election Day boost

BY Claudia Assis

Tesla Inc. stock and other select few electric-car and alternative-energy stocks rallied on Tuesday, readily outperforming traditional-energy stocks amid a broader stock-market rally.

Tesla /zigman2/quotes/203558040/composite TSLA -8.06% stock rose 5.84%, its largest one-day gain since Sept. 15, when it rose 7.18%. The stock’s close at $423.90 was its best in nearly two weeks. Tesla shares have quintupled this year.

Shares of Nikola Corp. /zigman2/quotes/208704275/composite NKLA -6.81% and the American depositary receipts of China’s Nio Inc. /zigman2/quotes/204905836/composite NIO -9.74% , both makers of electric vehicles, also outperformed the broad market as well as the day’s gains for General Motors Co. /zigman2/quotes/205226835/composite GM -4.35% and Ford Motor Co. /zigman2/quotes/208911460/composite F -4.16% .

Don’t miss: What the election could mean for Tesla, Fisker and their EV rivals

U.S. markets got over early Election Day jitters to surge on Tuesday.

Other large gainers in the so-called green energy camp Tuesday included Bloom Energy Corp. /zigman2/quotes/209802424/composite BE -9.11% , which shot up more than 13%, and Fuel Cell Energy Inc. /zigman2/quotes/203763461/composite FCEL -10.74% and Plug Power Inc. /zigman2/quotes/205453512/composite PLUG -13.60%

The rally did not extend to shares of solar-power companies, for the most part, with SunRun Inc. /zigman2/quotes/205021014/composite RUN -7.32% ending the day in the red and SolarEdge Technologies Inc. /zigman2/quotes/207754270/composite SEDG -7.73% adding to its late-Monday stumble.

SolarEdge, a maker of solar inverters and other devices, late Monday reported below-expectations third-quarter sales and guided for weaker sales in the fourth quarter.

Two of the largest exchange-traded funds focusing on solar and other clean-energy stocks diverged on Tuesday, with the iShares Global Clean Energy /zigman2/quotes/205740995/composite ICLN -4.82% underperforming the S&P 500 index only slightly and the Invesco Solar ETF /zigman2/quotes/210041821/composite TAN -5.51% ending in the red.

Both have had hefty gains for the year, up 71% and 125% respectively, and have SunRun among their top holdings. In comparison, the S&P 500 index /zigman2/quotes/210599714/realtime SPX -2.45% has gained 4.3% so far in 2020.

Tuesday’s performance for the solar ETFs compared with steeper losses for ETFs dedicated to oil and gas shares, however. The SPDR Energy Select Sector /zigman2/quotes/206420077/composite XLE -1.93% is down 51% for the year on concerns that the pandemic will continue to chip away at demand for oil and gas and bouts of oversupply.

/zigman2/quotes/203558040/composite

Add to watchlist TSLA

Tesla Inc.

US : U.S.: Nasdaq

$ 682.22

-59.80 -8.06%

Volume: 39.02M

Feb. 25, 2021 4:00p

P/E Ratio

1,085

Dividend Yield

N/A

Market Cap

$712.23 billion

Rev. per Employee

$445,694

/zigman2/quotes/208704275/composite

Add to watchlist NKLA

Nikola Corp.

US : U.S.: Nasdaq

$ 19.72

-1.44 -6.81%

Volume: 8.68M

Feb. 25, 2021 4:00p

P/E Ratio

N/A

Dividend Yield

N/A

Market Cap

$8.13 billion

Rev. per Employee

N/A

/zigman2/quotes/204905836/composite

Add to watchlist NIO

NIO Inc. ADR

US : U.S.: NYSE

$ 46.81

-5.05 -9.74%

Volume: 95.51M

Feb. 25, 2021 4:00p

P/E Ratio

N/A

Dividend Yield

N/A

Market Cap

$81.37 billion

Rev. per Employee

N/A

/zigman2/quotes/205226835/composite

Add to watchlist GM

General Motors Co.

US : U.S.: NYSE

$ 50.60

-2.30 -4.35%

Volume: 20.63M

Feb. 25, 2021 4:00p

P/E Ratio

11.71

Dividend Yield

0.00%

Market Cap

$76.22 billion

Rev. per Employee

$790,226

/zigman2/quotes/208911460/composite

Add to watchlist F

Ford Motor Co.

US : U.S.: NYSE

$ 11.76

-0.51 -4.16%

Volume: 75.25M

Feb. 25, 2021 4:02p

P/E Ratio

N/A

Dividend Yield

0.00%

Market Cap

$48.82 billion

Rev. per Employee

$683,570

/zigman2/quotes/209802424/composite

Add to watchlist BE

Bloom Energy Corp.

US : U.S.: NYSE

$ 27.33

-2.74 -9.11%

Volume: 3.40M

Feb. 25, 2021 4:00p

P/E Ratio

N/A

Dividend Yield

N/A

Market Cap

$5.00 billion

Rev. per Employee

N/A

/zigman2/quotes/203763461/composite

Add to watchlist FCEL

FuelCell Energy Inc.

US : U.S.: Nasdaq

$ 16.38

-1.97 -10.74%

Volume: 26.29M

Feb. 25, 2021 4:00p

P/E Ratio

N/A

Dividend Yield

N/A

Market Cap

$5.92 billion

Rev. per Employee

$224,275

/zigman2/quotes/205453512/composite

Add to watchlist PLUG

Plug Power Inc.

US : U.S.: Nasdaq

$ 43.34

-6.82 -13.60%

Volume: 38.22M

Feb. 25, 2021 4:00p

P/E Ratio

N/A

Dividend Yield

N/A

Market Cap

$25.21 billion

Rev. per Employee

$275,735

/zigman2/quotes/205021014/composite

Add to watchlist RUN

SunRun Inc.

US : U.S.: Nasdaq

$ 57.98

-4.58 -7.32%

Volume: 5.26M

Feb. 25, 2021 4:00p

P/E Ratio

1,846

Dividend Yield

N/A

Market Cap

$12.36 billion

Rev. per Employee

$178,870

/zigman2/quotes/207754270/composite

Add to watchlist SEDG

SolarEdge Technologies Inc.

US : U.S.: Nasdaq

$ 284.33

-23.82 -7.73%

Volume: 902,240

Feb. 25, 2021 4:00p

P/E Ratio

106.85

Dividend Yield

N/A

Market Cap

$15.89 billion

Rev. per Employee

$459,758

/zigman2/quotes/205740995/composite

Add to watchlist ICLN

iShares Global Clean Energy ETF

US : U.S.: Nasdaq

$ 25.50

-1.29 -4.82%

Volume: 10.89M

Feb. 25, 2021 4:00p

/zigman2/quotes/210041821/composite

Add to watchlist TAN

Invesco Solar ETF

US : U.S.: NYSE Arca

$ 97.65

-5.69 -5.51%

Volume: 2.63M

Feb. 25, 2021 8:00p

/zigman2/quotes/210599714/realtime

Add to watchlist SPX

S&P 500 Index

US : S&P US

3,829.34

-96.09 -2.45%

Volume: 2.92B

Feb. 25, 2021 5:19p

/zigman2/quotes/206420077/composite

Add to watchlist XLE

Energy Select Sector SPDR ETF

US : U.S.: NYSE Arca

$ 49.32

-0.97 -1.93%

Volume: 37.94M

Feb. 25, 2021 8:00p