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‘Green Tidal Wave’ Lifts Clean Energy Stocks With Biden Plan

Some of the newest S&P 500 members climbed after dropping from their peak levels.

As President Joe Biden gets ready to lay out the infrastructure portion of his economic package, investors are refocusing on an industry that’s recently been battered: green energy.

Some of the newest S&P 500 members such as solar-power company Enphase Energy Inc. and lighting supplier Monolithic Power Systems Inc. climbed on Wednesday after tumbling from their January peaks. The selloff followed a surge of 572% and 106%, respectively, in 2020. Elon Musk’s giant Tesla Inc. also rallied after largely underperforming the equity benchmark this year.