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Shares of solar panel manufacturer JinkoSolar (NYSE: JKS) rose by 175.1% in 2020, according to data provided by S&P Global Market Intelligence, as companies across the solar energy sector made sharp gains. JinkoSolar's revenue rose in 2020, but its net income was down as the pandemic impeded solar projects and manufacturing.
JinkoSolar's (JKS) high efficiency modules will generate 1 GW AC, once its Sunraysia, Glenrowan, Jemalong and Batchelor NT power plants are connected to the grid.
Shares of JinkoSolar Holdings (NYSE: JKS) rose as much as 16.7%, Canadian Solar (NASDAQ: CSIQ) was up 13%, and SunPower (NASDAQ: SPWR) was up 12.3% at its peak. The three solar energy stocks closed the day up 10.2%, 8.8%, and 3.7% respectively. The move comes on a day that the Dow Jones Industrial Average and S&P 500 are down just under 1%, so solar stocks are bucking the market's move today.