On June 22, we noted, “GNRC has a history of turning higher in most hurricane seasons and heat waves. That’s because demand for generators typically rises—especially if there are going to be power outages. In 2020, it ran from about $125 to $363. In 2021, the stock ran from about $407 to $460. Last year, it did see a brief pop from about $200 to $275 before plunging with the rest of the market.”
At the time, GNRC traded around $128. This morning, the stock is set to open at $144.
Not only is it running on an active hurricane season, but it’s also running on a heatwave in the south. In fact, as noted by CNN, “More than 55 million people from southern Arizona to the Florida coast are sweltering under a worsening heat wave that is expected to expand its reach this week, bringing more dangerous triple-digit temperatures.”
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