Solar stocks are rising as a result of growing fears around Japan's nuclear crisis.
On Monday morning, traders were betting that solar power would surge in demand as a result of nuclear fears. As a result, industry leader, First Solar (Nasdaq: FSLR) has seen its shares increase 4.64%.
Solar stocks are showing signs of life today after another drubbing yesterday. Both the EnergyBoom E•B Solar sub-index and the Claymore/MAC Global Solar Index ETF fell more than 4 percent yesterday.
Only a couple of solar stocks escaped yesterday’s downer, however it is worth noting that there has been a significant divide -- as in continental divide -- over the past year in the performance of the Chinese-based companies versus the U.S. and Euro-based companies.
For the first time in a year-and-a-half the Dow Jones Industrial Average closed over 11,000 yesterday, and its rise was driven in large part by renewable energy stocks.