Shares of Generac Holdings Inc. rose 1.7% in the pre-trading session on Friday amid the devastating wildfires in Los Angeles. A company specializing in power generation equipment and energy storage systems has traditionally recorded an increase in demand for its backup generators during such natural disasters. The fires resulted in the death of ten people, the destruction or damage of more than 9,000 buildings, and about 130,000 residents were evacuated. Experts warn that the situation remains extremely dangerous and could become the most expensive fire in the history of the United States. This increases interest in Generac products, as individuals and businesses seek to minimize damage from power outages and prepare for future crises. The growth of Generac shares reflects a pattern: companies providing disaster relief products often attract investors' attention during natural disasters. The market is responding to a likely increase in demand for reliable energy solutions due to power outages and infrastructure damage caused by fires. Nevertheless, Generac's long-term prospects will depend on global demand for energy sustainability solutions. With the increasing frequency of climate disasters, the company's products are becoming more relevant, which creates the basis for its future growth.
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