And Suddenly, Solar Back To Bonkers (FSLR, LDK, SPWRA, TAN, SOLR, STP)
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…
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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
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