The last time we mentioned Generac Holdings (GNRC), it traded at around $124 on June 17.
Not only did we highlight it as a hurricane season trade idea, but we would also highlight it as a heat wave trade. All as a heat way enveloped a good part of central and eastern U.S.
Shortly after, GNRC would rally to about $150, handing us a respectable win.
Today, we’re being handed another opportunity, as GNRC begins to break higher. Last trading at $156.96, we’d like to see GNRC race to $170 near term.
Fueling this latest rally, the U.S. is getting hit with another massive heat wave. “Many major cities in the Northeast are under heat advisories, including Boston, New York, Washington and Baltimore. Philadelphia is under an extreme heat warning,” said ScrippsNews.com.
“Dangerous heat continues across the U.S. as millions face feels-like temperature reaching into the 90s and 100s from the Southeast to the Midwest,” added ABC News.
After all, dangerous heat can often lead to blackouts, which can lead to bigger demand for power generators provided by companies like Generac Holdings.
Sincerely,
Ian Cooper
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