This stock is “untouchable,” Cramer said. He’s recommended investors stay away from First Solar since it was trading at around $138 a share in September 2010. Today, the stock hovers above the $13 level.
“The entire solar power space is on horrible shape since it depends on government subsidies and governments around the world are tightening their belts, especially on Europe which had been a big booster of solar,” Cramer said.
Last week, however, the U.S. Department of Commerce imposed anti-dumping tariffs of 31 percent on Chinese-made solar cells. In turn, Cantor Fitzgerald said the development could be positive for First Solar. Cramer doesn’t think it’s reason enough to own the stock, though. It remains a stock to avoid, he said.
Cramer is an entertainer. I like watching the guy for kicks and sometimes he has good ideas. Like getting out of FSLR at $130 8 months ago. But I watched this same guy tell his watchers when the dow was tanking below 7000 a couple years ago to put 2 years of funds in cash and the sky was falling. I was using every spare penny I could get my hands on to invest in stocks. You make the big money when you are willing to dive in when everyone else is running and screaming like a bunch of school girls who just saw a spider. That is where we are at with the solar industry right now. We may be at the bottom last week or maybe not until another 2 months. But we are pretty close here somewhere. I would expect cramer to be following the crowd at this point. When the tide turns.. the shorts are going to be in a cross-current that I would not want to be trying to swim against.
Think about it: FSLR has been going lower everyday for weeks and months- Today it almost hit another all time low- yet Cram er feels he should come on tv and bash the stock---- no doubt he has friends that need him to do this- this crook will be caught at some point- he is getting more careless every day
Give me a break, Cramer put 3 7's on 3 of his fingers to let everyone know that Google is going to $777, never happened, he also predicted Boeing was going to $100 never happened and do you ever hear him admit he made a mistake (NEVER HAPPENED) he tries to push up companies he brings on his program. This guy is a phoney and will eventually be caught in the act. (GOING TO HAPPEN) P.S. Notice First Solar did not drop after his remarks. Buy when he advices you to sell!