With the recent nice price increases I believe we are seeing profit taking today. Some of that is acknowledged on this board. I'm in for the long term, not for a few bucks quick profit.
This is a great company with an undervalued stock. The company is nicely profitable, has over 90 million in cash and NO debt,incredible for a manufacturing co. They are also in a great industry with a great future. There are not many manufacturing companies of any size in this strong a financial condition, always the bottom line in terms of risk.
This morning on CNBC, they said that next week, they will release long term forecasts on the effect of halting offshore drilling. With a focus on this, we should see oil prices start to rise, which puts alternative energy companies back on the buy side. Eventually, someone big is going to put some real money into SOLR. Bad news at the gas pump for us, usually means good news for companies like SOLR.
With the overhang of the controlling insiders of this company looking to dump up to 75 million shares, it's hard to get too excited right now, but there's enough positive news out there that makes you believe that someone could step in and buy it from them. As I have already stated, it's still a little too rich for me, but I still closely follow it.
Wow...not sure why you would have picked this point? There is no volume that would confirm a short term top....and in fact the up moves of the last few days have been on low volume. Usually this is a VERY bullish sign. My work shows we should meet some resistance around the $8-8.20 area. For one to try to wrench this undervalued stock for .20 cents or so seems very foolish.