Solar Stocks Getting Fried (TAN)
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Shares of Guggenheim Solar (NYSE: TAN), the ETF that tracks stocks in the solar sector are down 3 percent in early trading. The move comes after stocks in the sector got whipped around yesterday after the Commerce Department increased tariffs on Chinese solar products, effectively accusing the Chinese of dumping in the U.S.
Shares of First Solar (NASDAQ: FSLR), which spiked yesterday following the news, are trading lower by 4 percent today. Yingli Green Energy Holdings (NYSE: YGE) and Suntech Power Holdings (NYSE: STP) both Chinese companies, are down 7 percent and 5 percent respectively.
On the whole, it has been a difficult few months for solar stocks, as earnings have come under pressure due to a margin squeeze in the industry.
Shares of First Solar (NASDAQ: FSLR), which spiked yesterday following the news, are trading lower by 4 percent today. Yingli Green Energy Holdings (NYSE: YGE) and Suntech Power Holdings (NYSE: STP) both Chinese companies, are down 7 percent and 5 percent respectively.
On the whole, it has been a difficult few months for solar stocks, as earnings have come under pressure due to a margin squeeze in the industry.
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