He committed suicide because he cannot cover his margin calls.
Look at all my previous posts on this POS, over-hyped company that I have been shorting as high as $18-19. Hope some investors took my advice in not handing money to the crooks.
floppy, I was midterm trader, sold cover-calls at 39 to protect my shares ends up lost my STPs. I wait until it came back under 36, added some(I expected it will be 34, see STP board msg) then bought all back at 34s. the average I got back was around 35. just a week is not too bad. I went back too early because I invest for its potential.
I did compared the profit margin. u read my message long ago. we all knew them. STP, Qcell, solarWorld are in the same level. only STP will have better profit future. Currently STP pays more for silicon, shipping, import taxes, higher contract prices,,,, later, Chinese will produce silicon at cheaper prices and STP itself is a owner of silicon plant(s). STP is still smaller in size compare the other 2.
Also, most of STP PV produced in old plant, this is not in technology zoon so no tax benefit. The new line installed 30 MW is in the new build 150MW plant located in tech zoon with 7.5% tax rate. so, later this year, the tax will be much lass.
big deal! SPWR's income taxes = 0% now, when the lost credit use up, it pays 36% - 42% next year. Then SPWR will make less ESP. Now I correct my previous msg:
* STP is a supper by. it priced around to Solarworld when it was 50.
* SPWR is a reduce/sell, it priced about Qcell at 50 last Nov. it may come up a big but over priced.
I try to bring up facts add some rational conclusion. Everyone is welcome to correct me if wrong.
Just one more word - How can yo call a stock a super buy - When you said valuation too high and you completely sold out at $38, bought back at $35? Where is the "super" for $3 dollars difference? You are no more than a day-trader, how can you say it is "super"?
I kept 90-95% of CY, which I bought since $14, haven't been able to sell one single share on the last run over $18. Yes I was disappointed with the loss of IPOD deal, yes I have question about valuation on SPWR. Yes I do hedge on different solar makers including SPWR. I am not prophet, but usually try to keep my honesty on internet as much as I could.
If you aren't prepared to be honest, I don't see any points to continue dialouge.