Scorching hot Solar energy stocks continue to rise
Solar Energy stocks had another spectacular day on Monday. Check out the day’s performance:
Solar Energy Stocks:
- Solarfun (Nasdaq: SOLF) up 35.58%
- Canadian Solar (Nasdaq: CSIQ) up 24.54%
- Trina Solar (NYSE: TSL) up 17.26%
- JA Solar (Nasdaq: JASO) up 16.53%
- First Solar (Nasdaq: FSLR) up 6.01%
The image below shows today’s performance of all the solar stocks:
Click on the image to enlarge
The trend you see here is that all of these stocks are recent IPO’s and all of them are Chinese companies, except, of course, First Solar.
From this group, Trina Solar and First Solar have been the best performing Solar stocks.
- Trina Solar is up 270.8% since its IPO
- First Solar is up 224.7% since its IPO
The run in the solar stocks reminds me of the first half of 2006 when ethanol stocks went on a great run. The only difference is that most of these solar stocks are profitable and are showing tremendous growth. Plus, Solar Energy doesn’t have the shortcomings of corn based ethanol.
However, if you missed the opportunity on the uptrend you still have the opportunity to make money on the downtrend.
Tomorrow, I will tell you why First Solar is such a great short opportunity.
Full Disclosure: I am long STP and short FSLR and WFR
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