Generac stock surges to lead the S&P 500 gainers, after report that Texas heat wave has boosted sales

Shares of Generac Holdings Inc.
GNRC,
+8.99%
powered up 9.3% toward an eight-month high in afternoon trading Tuesday, which was enough to pace the S&P 500’s
SPX,
+1.15%
gainers. The home power generator maker’s stock was getting a boost after Chief Executive Officer Aaron Jagdfeld told Bloomberg that the company has seen a dramatic increase in sales in the Texas region, as a heat wave has raised concerns over the stability of the state’s power grid. The stock, which was on track to close at the highest price since Oct. 18, 2022, has run up 14.7% amid a three-day win streak. It has rocketed 59.5% since it closed at $89.79 on Dec. 22, 2022, which is the lowest close since April 7, 2020. The stock has soared 31.5% month to date, which puts it on track for the best monthly performance since it ran up 33.7% in February 2021. Meanwhile, the S&P 500 has tacked on 4.7% in June.