Shoals (SHLS) Shares Skyrocket, What You Need To Know

What Happened:

Shares of solar energy systems company Shoals (NASDAQ:SHLS) jumped 29.7% in the pre-market session after the company announced a favorable ruling from the U.S. International Trade Commission (ITC) in its patent infringement case against Voltage LLC. The ITC ruling found that Voltage violated Section 337 of the Tariff Act of 1930 by importing infringing products into the U.S. If the ruling is upheld, it will prevent Voltage from importing products that infringe on Shoals' patented solar panel connector technology.

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What is the market telling us:

Shoals’s shares are quite volatile and over the last year have had 41 moves greater than 5%. But moves this big are very rare even for Shoals and that is indicating to us that this news had a significant impact on the market’s perception of the business.

Shoals is down 59% since the beginning of the year, and at $6.24 per share it is trading 71.8% below its 52-week high of $22.09 from September 2023. Investors who bought $1,000 worth of Shoals’s shares at the IPO in January 2021 would now be looking at an investment worth $200.77.

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