Jeremy C Bradley is a staff writer for the Finance & Investment category of Justmeans. He is a graduate of Lincoln University of Missouri where he earned a degree in biology and philosophy. He also holds an MBA. Jeremy is an expert in the business field, having worked in development and marketing at major New York City non-profit organizations. Among the highlights of Jeremy's career is sp...
Solar Stocks Plunge
First Solar (FSLR) is one of the tried and true solar stocks. But the stock fell 2% this week as the Bureau of Land Management released its final environmental impact statement on the company's proposed Desert Sunlight project. Analysts for the project, well-reported in the media, are cautious of First Solar stock. They are reportedly weary of extended margin pressure and project development risks.
Further complicating matters, analysts say there is high potential for legal action to block the Desert Sunlight project. This, coupled with the plunging shares of Evergreen Solar (ESLR), may be to blame for the decrease in First Solar stock. Citigroup, holder of Evergreen Solar, says that the company faces capacity issues and may be meet its efficiency and effectiveness targets.
Because First Solar is considered the leader in solar stocks, others on the index fell as well - Trina Solar (TSL) is down 6%; ReneSola (SOL) and JinkoSolar Holding (JKS) are both down 4%; LDK Solar Company (LDK) fell 4% as well.
If you're interested in tracking the Solar Stocks Index, visit tickerspy.com.
Photo Credit: Apollo1981
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