On September 25, right before Hurricane Helene made a mess, we noted, “With a new hurricane nearing the U.S., generator stocks like GNRC will typically run higher. In fact, that’s starting to happen now, with GNRC bouncing from support at $140. Last trading at $150.84, we’d like to see the stock retest $157.50 as the storm nears landfall.”
From $157.50, the stock ran to $160.18 so far. And it could push even higher, especially with Tropical Storm Milton expected to hit Florida as a major hurricane midweek.
According to Benzinga, “Hurricane Helene left 4.7 million people without power at its peak and more than 1.5 million people remained without power as of Tuesday. Analysts at KeyBanc see this year’s active hurricane season as a potential catalyst for Generac Holdings Inc. as consumers reach for back-up and portable power generators.
Also, if you happen to be in the path of these storms, please stay safe.