Solar Stock SPRU will be ripping off the new power narrative through 2026

Alright so Spruce Power. Ticker SPRU.

They own the panels on about 85,000 houses. People pay them every month. Contracts still have like 10 years left. They also service another 60,000 systems they don’t even own. The roofs are already on the houses and the checks already clear.
Closed today at $2.04. After hours a little over $2.07. Market cap is $39 million.

Last quarter they reported $81.5 million in cash and restricted cash and called it $4.24 a share. Q2 they printed a profit. $3.3 million to stockholders. Record operating EBITDA of $26.5 million. Portfolio value on their PV6 number is $802 million.
Now the part that should make this board sit up.
Last week Elon went on a solar run and it wasn’t subtle.

Sep 11: “solar energy over time will round up to 100% of energy harnessed (obviously)”

Sep 15, quoting Texas solar passing nuclear and then doubling it: “Solar is so obviously the future”

Same day, after Chamath posted a solar chart: “The solar power exponential will continue until all other energy sources are <<0.1%”
He called the sun an enormous free fusion reactor in the sky. Tesla and SpaceX are each talking 100 GW a year of U.S. solar manufacturing. There’s a $10 billion Tesla cell plant proposal in Texas. The whole energy bet is swinging into panels and storage.
That’s the tape. The guy with 240 million followers just told everyone solar is the entire energy stack.

Meanwhile SPRU already owns the residential version of that stack, sitting at two dollars, with a float around 15 million and about 840k shares short. Normal volume on this thing is 65k. Friday it did 500k and went up 17%. Today it did 1.3 million, tagged $2.35, and still closed green.

Steel Partners owns roughly 18% and just put one of their people on the board. They’ve been buying stock in the open market.
52-week high is $6.75. Same ticker. This year.
When solar rips, the orphan with real contracted rooftops and a tight float is the one that gaps. Volume is here. The activist is here. Elon just handed the sector the headline.

I’m in from the $2s.