ReneSola (SOL) Highlighted As Solar Play
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A trader is pointing out recent IPO ReneSola Ltd. (NYSE: SOL) as a "cheap" solar stock and the "next big play" in the sector, which resumed its lost luster recently following blow-out results from solar-leader First Solar (Nasdaq: FSLR) yesterday and the resurgence in the price of crude.
ReneSola Ltd. came to the market on Jan 29th at $13 per share, which is about the same price as it is now. Yesterday, the stock was up 16%, its biggest day since coming public.
ReneSola is a leading Chinese manufacturer of solar wafers, which are thin sheets of crystalline silicon material primarily used in the production of solar cells. ReneSola's customers include some of the leading global manufacturers of solar cells and modules, such as JA Solar Co., Ltd., Motech Industries Inc., Solarfun Power Holding Ltd., Suntech Power Co. Ltd. and Topco Technologies Corp.
ReneSola Ltd. came to the market on Jan 29th at $13 per share, which is about the same price as it is now. Yesterday, the stock was up 16%, its biggest day since coming public.
ReneSola is a leading Chinese manufacturer of solar wafers, which are thin sheets of crystalline silicon material primarily used in the production of solar cells. ReneSola's customers include some of the leading global manufacturers of solar cells and modules, such as JA Solar Co., Ltd., Motech Industries Inc., Solarfun Power Holding Ltd., Suntech Power Co. Ltd. and Topco Technologies Corp.
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