This story was originally published here.
Energy stocks haven’t been so hot lately.
It was the S&P 500 Index’s worst-performing sector in 2018 and 2019. Now, this year’s oil crash threatens to add even more pain to the struggling industry.
However, one high-tech energy company is thriving amongst the chaos. It’s an energy storage pioneer, Enphase Energy Inc. (Nasdaq: ENPH).
After losing 58% of its value during the market crash, ENPH skyrocketed 140% in a matter of weeks.
ENPH Bottomed on March 18 … Then Took Off
Ian King recommended the stock on February 21, noting that the solar power firm grew its year-over-year revenue by 97% in the fourth quarter of 2019.
I asked Ian about it this week, and he credits ENPH’s outperformance last year for its sudden comeback, explaining that “strong stocks going into the sell-off seem to be leading the market higher.”
Editor's Note: Click here to see what's next for Enphase.
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