All solars with the exception of ESLR today are down 3-6%. I thought SPWRA's rather modest loss yesterday in the face of market and sector carnage was a sign of a bottom. I was wrong. Right now it looks like a ledge on a canyon wall. No sign of talk from any of the solars. The German thing seems to have them dumb. Everybody knew it was going to happen. Feed in tarrifs are nice, but everyone knows in the long run they are not sustainable. The CDU said they would cut tarrifs if elected. They got elected and the kept their promise. I don't know maybe in some quarters politicians keeping promises are a "surprise."
Now it looks like the overall market has cracked the 50 DMA. The long awaited correction seems to be on. Solar is participating whole heartedly.
Was just browsing through SPWRA Annual Report for 2008.
In terms of Sales exposure - Germany accounted for only 10% of sales that year....USA was 36% and Spain was 35%..
This is good news relative to other solar companies who are heavily exposed to Germany. Any thoughts??
It is good news. It was mentioned in passing is some of the news reports, but it had little effect. Sometimes you are just a cork on the ocean, and when a wave comes you get bounced on the rocks.
It is not good news. The large Spanish solar market completely dries up. They cut all subsidies last fall and German solar companies such as Q-Cell and SolarWorld took a hit. In Germany you see a lot of houses with PV cells on the roofs while in Spain they have large solar energy plants in the desert and SPWR is strong in building solar stations.
The German market will still be very large since a law was passed in Jan 09 that all new buildings have to get 40% of the energy from renewable resources.
just waiting for the bottom, mike. S&P still has another leg down to go - I wonder if 1035 will hold? I hope so. I bet anyone who is interested could grab some "A" shares in the upcoming weeks below $19. I still have my shares and I've got loads of dry powder I've been sitting on...
man am I glad I didn't chase it running up a few weeks back.
hope all is well - it's been a while. how 'bout them spartans?
They are doing a hell of a lot better than the Nits. After winning the NIT last year and Taylor Battle coming back I figued we would be good for 3-5th place in the Big Ten this year. Instead we are in the celler.
As for SPWRA I have got hurt lately with this drop. The calls I bought a week or two ago are just about worthless. Have some dry powder left but this outfit's behavior lately is very disconcerting. My next option play may be with FSLR.