Some stocks that investors had given up for dead are defying the norm and finding new life in the current rally.
First Solar, for example, is up 63 percent in 2013, after posting a loss for five consecutive years. In fact, the stock is still off by 84 percent from its record price of $317 back in May 2008.
Another solar name that has made a comeback is SunPower. The stock is up 347 percent year-to-date—also on track to break a five-year losing streak in which it plunged 96 percent.
Both of those names are heavily shorted. First Solar has short interest of 17 percent, while SunPower has a short ratio of 28 percent.
Sanjay Shrestha, an analyst with Lazard Capital Markets covering alternative energy, cites improved profitability and cash flow in recent years for the strong performance.
"Strong demand in multiple new markets is driving ongoing cost reductions and fueling a resurgence in the solar industry," he said.
Another name pretty much given up on is RadioShack. After plunging nearly 89 percent in the past two years, shares are up 33 percent this year, trading at about $2.81.
Despite the S&P 500's rising 23 percent and the Nasdaq 100's surging 28 percent this year, many of their components haven't been able to join the rally.
Are these the new zombie stocks?
—BY CNBC's Pradip Sigdyal