Generac Stock Skyrockets on Surprise Deal with Amazon
Generac Holdings Inc., the Wisconsin-based generator and renewable energy systems manufacturer, saw its stock skyrocket late in trading yesterday. The company's shares rose by over 9% in extended trading after news broke that it had secured a major deal with e-commerce giant Amazon.
The exact terms of the agreement were not disclosed, but industry analysts speculate that Generac will supply Amazon with generators and other backup power solutions for its data centers and fulfillment centers. This partnership would be a significant coup for Generac, as it looks to expand its presence in the burgeoning renewable energy market.
Generac's stock price has been steadily increasing over the past few months, driven by strong demand for its products and growing investor confidence in the company's ability to navigate the challenges of the renewable energy space. The stock closed at $34.55 per share on Friday, a 14% increase from its low point earlier this year.