Either people are thinking SPWR will fall back down and hence CY doesn't deserve the premium for owning 80+% of SPWR or those people are wrong, and CY will track with SPWR. If you figure that SPWR will keep its value, then CY should be a $20+ stock.
Either way this ends up playing out, you can lock in this mispricing of CY by shorting SPWR and buying CY (2 to 1 ratio)
Don't encourage people to short SPWR. You may never see sunlight again (till CY spins off SPWR 100%) if everyone starts to short.SPWR only has 7.3 millions floating. It is like a small theater, imagine what will happen if someone starts to yell "fire, fire, fire!!!!!!!!!!!" You want see short squeeze?There are other solar panel stocks available for short. ENER and ESLR.