First Solar (FSLR), Other Solars Higher Following Busted Oil Pipeline
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First Solar (Nasdaq: FSLR) is trading at a new 52-week high. The stock is trading at $237 (+10%) --- blowing past its old $230 high.
The surge in oil prices, following a fire at a major Canada-to-US oil pipeline, is helping contribute to today's move in First Solar and other solar stocks. Oil climbed over $4 per barrel. Higher oil prices will increase demand for alternative energy sources, like solar.
SunPower (Nasdaq: SPWR) is up 5%, Suntech Power Holdings Co. Ltd. (NYSE: STP) is up 8%, Evergreen Solar Inc. (Nasdaq: ESLR) is up 5%, JA Solar Holdings Co., Ltd. (Nasdaq: JASO) is up 9%
The surge in oil prices, following a fire at a major Canada-to-US oil pipeline, is helping contribute to today's move in First Solar and other solar stocks. Oil climbed over $4 per barrel. Higher oil prices will increase demand for alternative energy sources, like solar.
SunPower (Nasdaq: SPWR) is up 5%, Suntech Power Holdings Co. Ltd. (NYSE: STP) is up 8%, Evergreen Solar Inc. (Nasdaq: ESLR) is up 5%, JA Solar Holdings Co., Ltd. (Nasdaq: JASO) is up 9%
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