Shares of Generac Holdings Inc. GNRC powered up 7.6% in afternoon trading, enough to pace the S&P 500’s SPX gainers. Investors appear to be flocking to the maker of home generators amid reports of widespread power outages in the southern U.S. resulting and oppressive heat following heavy storms. According to PowerOutage.us, there are more than 140,000 homes without power in Oklahoma, more than 50,000 without power in both Texas and Louisiana, more than 20,000 without power in Mississippi and more than 10,000 without power in Arkansas. There are also nearly 40,000 homes without power in California. Generac’s stock has soared 27.7% year to date, while the S&P 500 has advanced 14.4%.
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