Traders Book Profits on First Solar (FSLR) and TAN
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Guggenheim Solar ETF (NYSE: TAN) is trading lower today as traders take profit after a rare weekly gain for stocks in this sector. Shares of First Solar, Inc. (Nasdaq: FSLR) got a huge boost early in the week when it made a surprise announcement that it will keep its plant in Frankfurt, German open longer than expected due to increase sales. The rally in FSLR has pulled back since tapping highs above $15 per share. It is trading near $13.6 per share in early trading on Thursday.
Yesterday the Germany federal government and the 16 states failed to bridge their differences on proposed cuts to solar-power subsidies. Chancellor Angela Merkel’s government and the states are still too far apart and the proposed cut might be completely dropped. Further talks will take place on June 18th.
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Yesterday the Germany federal government and the 16 states failed to bridge their differences on proposed cuts to solar-power subsidies. Chancellor Angela Merkel’s government and the states are still too far apart and the proposed cut might be completely dropped. Further talks will take place on June 18th.
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