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.
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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