Shoals Technologies Stock Gains 9% Driven By Sen. Manchin Support For Biden's Climate Bill

Shares of Shoals Technologies Group, Inc. (SHLS) are gaining over 9% on Thursday morning. Shares of solar energy companies jumped on Thursday morning, after Democratic senator Joe Manchin took a u-turn and announced the support for President Joe Biden's climate and tax bill.

Manchin had previously objected to the proposal, citing fears more spending could worsen inflation.

SHLS is currently trading at $20.77, up $1.74 or 9.17%, on the Nasdaq. The stock opened its trading at $21.74 after closing Wednesday's trading at $19.03. The stock has traded between $9.58 and $36.86 in the past 52-week period.

Shoals Technologies Group, Inc. provides electrical balance of system (EBOS) solutions for solar energy projects in the United States.

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