Just like almost everything else in the current bear market, growth segments like green energy stocks have significantly cooled down since their initial thrust in January 2021 after Joe Biden became president.
While Biden’s administration has been pushing the green energy theme, investor interest in solar power stocks has faded. Invesco Solar ETF (NYSE:TAN) has declined by 44% from its January 2021 high.
One victim of the green energy stock selling is Shoals Technologies Group Inc (NASDAQ:SHLS). SHLS stock is down by 22% in 2022 and down by 37% over the past year. While there’s no guarantee the country’s push toward green energy will continue, the sector offers exciting opportunities.
Contrarian Investors Should Look at Shoals Technologies Group Inc
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