📖Sunrun is the largest installer and owner of rooftop solar systems in the U.S. It installs and owns about 20% of all the solar systems currently on U.S. homes. Sunrun has a first-mover position in what is called virtual power plants, or VPPs. A VPP is an agreement to supply energy to a traditional utility at times of peak demand -- or what's called "grid services." Sunrun can sell the energy already stored (and normally sitting unused in its customers' home batteries) to the local utility when requested. Management said that the company deployed 171.6 megawatts during the fourth quarter, up 10% from a year ago - this failed to impress investors though, causing the recent stock plunge. Net earning assets, a measure of the present value of projects, were $2.9 billion. With the Biden administration’s focus on clean energy, solar stocks like Sunrun are likely to have tailwinds for time to come however are extremely volatile given its recent interest by retail traders.
📈 Sunrun stock is down 30% from its all time highs. Price has been trading in a bullish price channel since July. Price could find support at or near $66 as it touches the lower trend line of the price channel. On lower time frames, price is still bearish. Should price break out of this bearish structure, it could continue higher. A move towards the top of the price channel could see 46% upside.
🔎This is not financial advice. Always do your own research and due diligence. Always wait for directional confirmation before entering a trade.
📈 Sunrun stock is down 30% from its all time highs. Price has been trading in a bullish price channel since July. Price could find support at or near $66 as it touches the lower trend line of the price channel. On lower time frames, price is still bearish. Should price break out of this bearish structure, it could continue higher. A move towards the top of the price channel could see 46% upside.
🔎This is not financial advice. Always do your own research and due diligence. Always wait for directional confirmation before entering a trade.