Invesco Solar ETF [TAN] Stock Forecast

While the environmental news continues to be dire and bleak, there's a ray of light amidst the darkness. Dropping costs and improving technology have led to a rise in renewable energy.

The solar sector is heavily beaten down and a nice confluence of factors are supporting an explosive recovery rally in the sector. Some leading solar stocks are already breaking out of bases, and are showing strength despite missed earnings. These are tells that the sector has bottomed out. The high short interest in some solar stocks could add buying pressure and fuel the recovery rally.

Good morning, VettaFi Voices! Third-quarter earnings announcements have almost come and gone, with yesterday being the last big burst of companies.

Hello! This week's ETF Wrap digs into where investors put their money in October, and how November is shaping up in markets after the Federal Reserve's decision on interest rates.

First Solar beat bottom-line estimates but missed the same for revenues. It lifted the earnings per share guidance.

After a downbeat September, October too remained volatile for Wall Street due to higher rates.

Invesco Solar ETF has underperformed in 2023, down over 25%, due to tough solar industry price action. TAN's valuation is attractive, with low price-to-earnings and price-to-book ratios. The technical outlook for TAN is bearish, but there is potential for some buying interest and support around the mid-$50s.

Rising interest rates are impacting consumer discretionary spending and renewable energy projects. D.R. Horton's stock's big move showcases the housing supply/demand imbalance.

If the majesty of the Arizona's Grand Canyon isn't enough to spark climate-change action, the region's record-setting extreme heat and the viability of a key water source should move more Americans to take global-warming seriously, and fast, President Joe Biden said Tuesday.

We conducted a comprehensive analysis and comparison of three ETFs (TAN, QCLN, and ICLN) to determine the best Renewable ETF. The assessment examined the catalysts driving the growth of Renewable Electricity and explored the applications within Clean Energy and Sustainability across different industries. We also evaluated their portfolio breakdowns and exposures to leading industries.