Solars Rocketing Higher as Crude Gains (FSLR, SPWRA, LDK, more..)

Solar stocks are absolutely skyrocketing this morning amid crude oil prices which have bounced back over the $50 mark, currently up about 5% from Friday's close. Additionally, value investors seem to have to stepped in today as these stocks were approaching oversold levels (since the beginning of November, solar stocks, as measured by the Claymore/MAC Global Solar Index (NYSE: TAN), fell more than 60%).

Besides today's jump in oil and the recent oversold conditions, we are not hearing any industry or company specific news that would justify such upside. Here is a summary of today's price action in some popular solar stocks:

• First Solar (Nasdaq: FSLR) up 16.5% to $108.36. Notably, shares of First Solar were down more than 50% in November prior to Friday's rally.
  
• SunPower (Nasdaq: SPWRA) up 30% to $26.75. The stock is one of the best performing solars today as it has been beaten down the most in November -- SunPower has fallen more than 62%.
  
• JA Solar (Nasdaq: JASO) up 36% to $2.86
  
• Solarfun (Nasdaq: SOLF) up 24.6% to $4.05
  
• Canadian Solar (Nasdaq: CSIQ) up 13.3% to $4.60
  
• ReneSola (NYSE: SOL) up 13.6% to $2.67
  
• LDK Solar (NYSE: LDK) up 10.7% to $12.20
  
• Trina Solar (NYSE: TSL) up 22.8% to $7.81

First Solar, Inc. designs, manufactures, and sells solar electric power modules using a proprietary thin film semiconductor technology.

SunPower Corporation engages in the design, manufacture, and marketing of solar electric power technologies.

You May Also Be Interested In

• IBM tumbles on soft Q1 revenue; announces HashiCorp $6.4bn acquisition
• TrueBlue's (TBI) PeopleScout Announces Appointments to its Executive Team
• Dave & Buster's Entertainment (PLAY) Appoints Darin Harper as CFO