Energy
And Suddenly, Solar Back To Bonkers (FSLR, LDK, SPWRA, TAN, SOLR, STP)
Published:
Last Updated:
The sudden strength in the stock market and the rise in the price of oil is suddenly making the key solar sector stocks rise. Solar shares also appear to be benefiting from China’s support of a subsidy program. DigiTimes noted that while the government supports the development of solar energy, no time line for any subsidy has been give. Unfortunately, DigiTimes.com website was not connecting, so no link can be offered. We have seen reports on this throughout the week noting the possible “assistance” on huge solar projects in China, but this is taking shares of First Solar, Inc. (NASDAQ: FSLR), LDK Solar Co. (NYSE: LDK), SunPower Corporation (NASDAQ: SPWRA), Claymore/MAC Global Solar Energy (NYSE: TAN), GT Solar International, Inc. (NASDAQ: SOLR), and Suntech Power Holdings Co. Ltd. (NYSE: STP) are all rallying sharply. These are just some of the screaming gainers in the sector, but you will see double-digit gains, sometimes huge double-digit gains, across the board:
First Solar, Inc. (NASDAQ: FSLR) $155.38 (+$21.40)
Day’s Range: $135.65 to $158.49; 52wk Range: $85.28 to $317.00
Volume: 5,305,547; Avg Vol: 4.1 million
LDK Solar Co. (NYSE: LDK) $8.35 +$2.46; +41.77%)
Day’s Range: $6.20 to $8.47; 52wk-Range: $3.75 to $52.40
Volume: 8,962,559
Avg Vol: 2.2 million
SunPower Corporation (NASDAQ: SPWRA) $27.81 (+$3.77; +15.68%)
Day’s Range: $24.91 to $29.73; 52wk-Range: $18.50 to $107.00
Volume: 3,455,101; Avg Vol: 2.1 million
Claymore/MAC Global Solar Energy (NYSE: TAN) $7.36 (+$1.18; +19.09%)
Day’s Range: $6.25 to $7.56; 52wk-Range: $4.65 to $30.79
Volume: 1,097,490; Avg Vol: 333,459
GT Solar International, Inc. (NASDAQ: SOLR) $5.72 (+$0.84; +17.37%)
Day Range: $5.00 to $5.86; 52wk-Range: $0.88 to $14.45
Volume: 1,445,524; Avg Vol.: 751,000
Suntech Power Holdings Co. Ltd. (NYSE: STP) $11.69 (+$3.84, 48.92%)
Day Range: $8.25 to $11.99; 52wk-Range: $5.09 to $51.75
Volume: 15,707,293; Avg Vol: 2.9 million
What will end up being more amazing than just this move is whether or not it can hold without profit taking and short sellers betting against it. If commodities keep rising, you will likely again see just how many alternative energy stocks are in fact essentially leveraged oil and gas stocks.
Jon C. Ogg
March 26, 2009
Want to Retire Early? Start Here (Sponsor)
Want retirement to come a few years earlier than you’d planned? Or are you ready to retire now, but want an extra set of eyes on your finances?
Now you can speak with up to 3 financial experts in your area for FREE. By simply clicking here you can begin to match with financial professionals who can help you build your plan to retire early. And the best part? The first conversation with them is free.
Click here to match with up to 3 financial pros who would be excited to help you make financial decisions.
Have questions about retirement or personal finance? Email us at [email protected]!
By emailing your questions to 24/7 Wall St., you agree to have them published anonymously on a673b.bigscoots-temp.com.
By submitting your story, you understand and agree that we may use your story, or versions of it, in all media and platforms, including via third parties.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Latest from 24/7
