Why First Solar, Inc. (FSLR) Skyrocketed On Tuesday

We recently published a list of 10 Firms Crushing the Market. In this article, we are going to take a look at where First Solar, Inc. (NASDAQ:FSLR) stands against other firms that are crushing the market.

The stock market finished the trading day on a mixed note, as investors continued to digest April inflation figures, which came out lower than expected.

On Tuesday, the Labor Department reported that the Consumer Price Index for April rose by only 0.2 percent last month, bringing the annual inflation rate to 2.3 percent, its lowest annual rate since February 2021.

Among Wall Street’s main indices, only the S&P 500 and the tech-heavy Nasdaq registered gains, by 0.72 percent and 1.61 percent, respectively. The Dow Jones, on the other hand, was down by 0.64 percent.

Beyond the major indices, 10 companies finished the session with strong gains amid a flurry of positive developments, including ratings upgrades and impressive corporate earnings, among others.

In this article, we name Tuesday’s 10 top performers and detail the reasons behind their rally.

To come up with the list, we considered only the stocks with a $2-billion market capitalization and $5-million trading volume.

First Solar, Inc. (NASDAQ:FSLR)

First Solar, Inc. (NASDAQ:FSLR) extended its rally for a fifth consecutive day on Tuesday, jumping 22.66 percent to close at $191.60 apiece as investors cheered a new proposal at the Congress which aims to “only trim, but preserve” key tax credits for solar and wind resources.

The House of Representatives’ Ways and Means Committee kept the Production Tax Credit and Investment Tax Credit untouched until 2028, before a gradual phase-down to 2032. According to JP Morgan, the move aligns with or exceeds the more bullish end of investor expectations.

The news provided a boost to solar companies, which have been grappling with uncertainties since the start of the new administration amid President Donald Trump’s lukewarm stance on renewable energy resources, saying that the US needs to prioritize energy supply over zero carbon commitments.

Following the news, Wolfe Research gave First Solar, Inc. (NASDAQ:FSLR) an “outperform” rating and a price target of $221, or a 15-percent upside from its latest closing price.

Overall, FSLR ranks 3rd on our list of firms that are crushing the market. While we acknowledge the potential of FSLR as an investment, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. There is an AI stock that went up since the beginning of 2025, while popular AI stocks lost around 25%. If you are looking for an AI stock that is more promising than FSLR but that trades at less than 5 times its earnings, check out our report about this cheapest AI stock.

READ NEXT: 20 Best AI Stocks To Buy Now and 30 Best Stocks to Buy Now According to Billionaires.

Disclosure: None. This article is originally published at Insider Monkey.