On MAD MONEY tonight, Cramer also went on a bottom-hunting expedition for damaged stocks rather than damaged companies. Yesterday he touted General Cable (BGC) but his pick tonight is First Solar, Inc. (FSLR-NASDAQ).
FirstSolar (FSLR) is the best solar company out there because they can generate more power for less money than its competitors. After a big sell-off you want companies that just had a great quarter, and this one is not likely to show a big drop in the near future. It wouldn’t be down if it wasn’t for the stock market sell-off according to Cramer. They posted $0.12 EPS last week instead of $0.07 estimates on much higher revenues and guidance. This one jumped $20 before the big sell-off, but it is 10% off the highs and you can buy a hot stock for less than it is worth. This company offers non-subsidized products and makes money, unlike other solar companies here in the US. Its cost is 60% per watt of the other companies because they use their own process rather than silicon wafer. It has 40% margins and it should keep beating the street estimates.
Jon C. Ogg
March 7, 2007
Jon Ogg can be reached at [email protected]; he does not own securities in the companies he covers.
Top Gaining Stocks
Top Losing Stocks