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We recently compiled a list of the 10 Firms Defy Market Pessimism. In this article, we are going to take a look at where Sunrun Inc. (NASDAQ:RUN) stands against the other firms.
Ten companies finished firmer on Friday, bucking an overall market pessimism, over a series of catalysts sparking buying appetite.
Wall Street’s main indices all finished in the red territory, with the Dow Jones down by 0.32 percent, the S&P 500 dropped 0.29 percent, and the Nasdaq down 0.50 percent.
In this article, let’s take a look at which companies defied broader market pessimism and explore the reasons behind their growth.
Friday’s top advancers only considered the stocks with at least $2 billion in market capitalization and $5 million in daily trading volume.
A field of solar panels glistening in the afternoon sun, symbolizing the company's renewable energy ambitions.
Sunrun Inc. (NASDAQ:RUN)
Bargain-hunting pushed Sunrun Inc. (NASDAQ:RUN)’s prices higher by 9.53 percent on Friday to close at $10.23 apiece amid a series of catalysts that buoyed market optimism.
After hitting a new 52-week low in the middle of the week, investors resorted to bargain-hunting to take advantage of its cheap valuations.
On Wednesday, Sunrun touched a new all-time low amid concerns about its earnings performance, as the company faces significant headwinds over the past year, coupled with fears that President Donald Trump’s shunning from the renewable energy sector could dampen its future growth.
On Tuesday, Trump ordered the US withdrawal from the Paris Agreement which aims to cut carbon emissions in a bid to limit global warming.
Lastly, investors may have repositioned their portfolios ahead of the company’s release of its fourth quarter and full-year earnings results next month.
Overall RUN ranks 5th on our list of the firms that defy market pessimism. While we acknowledge the potential of RUN as an investment, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns and doing so within a shorter timeframe. If you are looking for an AI stock that is more promising than RUN but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.
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Disclosure: None. This article is originally published at Insider Monkey.