AI power stocks slide, solar firms shine as Democrats win Congress
XLU•Shares of data center-linked power companies fell as Democrats won control of Congress, while solar stocks rose. Constellation Energy dropped 7.7%, Bloom Energy fell 6.5% and Vistra lost 14%; First Solar gained 18.2% and Nextpower rose 11.4%.
1. Power stocks fall
Constellation Energy fell 7.7%, Bloom Energy dropped 6.5% and Vistra lost 14% as Democrats seized control of the Senate and House. First Solar rose 18.2% and Nextpower gained 11.4%. Dennis Dick of Triple D Trading said solar stocks were holding up as Democrats favor clean energy, while concerns about potential speed bumps in the AI buildout weighed on data center-linked stocks. The Invesco solar ETF was down about 6% year to date, including the session's moves.
