The solar stocks are spiraling downwards, post German announcements of the FIT cuts that will be imposed this year. Germany has, thus far, been the world's largest market for solar products.
First Solar's stocks are down US$2.60 or 6.43 percent to $37.85, as of 10:50 am eastern time as NASDAQ shows. Other companies are also taking a hit. On the New York Stock Exchange, Suntech Power Holdings was standing at $3.29, down $0.21 or six percent, LDK Solar fell by 1.46 percent to $6.06, Yingli Green Energy's stocks fell by 6.24 percent to $4.06 and SunPower Corporation is currently trading at $7.97, down by 3.16 percent. Trina Solar's prices were down 7.58 percent at $9.02 at the time of writing.
Trina Solar's stocks were also affected by the fourth quarter (Q4) and fiscal year 2011 results made by the company. Notable sequential shipment growth was achieved in Q4, but growth in worldwide photovoltaic module capacity and peaked channel inventory resulted in significantly lower product prices, which adversely affected bottom line results.
As of the end of January, statements made by several Chinese solar company CEOs that China was heading for a solar boom year in 2012, with expected expansions of four to five gigawatts in installed capacities sent solar stocks heading upwards into the last weekend of January.
This content is protected by copyright and may not be reused. If you want to cooperate with us and would like to reuse some of our content, please contact: editors@pv-magazine.com.
By submitting this form you agree to pv magazine using your data for the purposes of publishing your comment.
Your personal data will only be disclosed or otherwise transmitted to third parties for the purposes of spam filtering or if this is necessary for technical maintenance of the website. Any other transfer to third parties will not take place unless this is justified on the basis of applicable data protection regulations or if pv magazine is legally obliged to do so.
You may revoke this consent at any time with effect for the future, in which case your personal data will be deleted immediately. Otherwise, your data will be deleted if pv magazine has processed your request or the purpose of data storage is fulfilled.
Further information on data privacy can be found in our Data Protection Policy.