MEMC Electronic Materials, Inc. (NYSE: WFR) has been a brutal stock holding in recent years. From potential merger candidate, to value stock, to down and out… Investors often do not like when headlines have the term “Clarify” or “Explanation” in them.
We are seeing news from MEMC that it intends to “Clarify” its solar plans in Japan. This is supposedly in response to various news articles and Internet reports regarding SunEdison’s involvement in the Japan solar market.
As noted, “The company is aware of certain media reports during the past 24 hours regarding SunEdison’s future plans for solar project development in Japan. While SunEdison remains interested in this market, the company’s plans in Japan are not yet firm due to uncertain project economics.”
MEMC went on to note that feed-in-tariff rates have not been determined by Japanese officials. That in turn signals that project pricing nor project costs can be known at this time.
The company noted, “As a result, the size of SunEdison’s future investment in solar project development in Japan, if any, has not yet been determined. As the company’s plans in this market evolve, appropriate public announcements will be made to keep investors informed.”
Shares are up almost 4% at $4.60 and the 52-week trading range is $3.65 to $15.04.
MEMC and a handful of other solar stocks have helped turn many 401/K plans into 201/K plans.
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