Yesterday's IPO GT Solar (SOLR) Falls Off A Cliff
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Yesterday's IPO for GT Solar International, Inc. (NASDAQ: SOLR) is under heavy pressure today, losing 21% of their value today. The stock is trading at $11.53 today after coming to the market at $16.50 per share yesterday.
Today there are fears about large client LDK Solar (NYSE: LDK), which announced today that they signed a contract to purchase production equipment from China-based JYT Corporation.
According to GT Solar's prospectus, "During the fiscal year ended March 31, 2008, one customer, LDK Solar Co. Ltd., accounted for 62% of our revenue."
GT Solar is a provider of specialized manufacturing equipment and services essential for the production of photovoltaic, or PV, wafers, cells and modules and polysilicon.
Today there are fears about large client LDK Solar (NYSE: LDK), which announced today that they signed a contract to purchase production equipment from China-based JYT Corporation.
According to GT Solar's prospectus, "During the fiscal year ended March 31, 2008, one customer, LDK Solar Co. Ltd., accounted for 62% of our revenue."
GT Solar is a provider of specialized manufacturing equipment and services essential for the production of photovoltaic, or PV, wafers, cells and modules and polysilicon.
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