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
Get Ready To Retire (Sponsored)
Start by taking a quick retirement quiz from SmartAsset that will match you with up to 3 financial advisors that serve your area and beyond in 5 minutes, or less.
Each advisor has been vetted by SmartAsset and is held to a fiduciary standard to act in your best interests.
Here’s how it works:
1. Answer SmartAsset advisor match quiz
2. Review your pre-screened matches at your leisure. Check out the advisors’ profiles.
3. Speak with advisors at no cost to you. Have an introductory call on the phone or introduction in person and choose whom to work with in the future
Get started right here.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Latest from 24/7
