SolarCity shares surge on SanFran ordinance

SolarCity's stock rose 7.8 percent Wednesday after a piece of legislation was approved by San Francisco officials.

The San Francisco Board of Supervisors on Tuesday passed a bill requiring solar panels being installed on new small and midsize residential and commercial buildings within the city.

Shares of SolarCity have advanced 25 percent in the past month. That said, the stock is still down 33 percent year to date and 40 percent in the past 12 months.

SCTY in past year