Sorry but I disagree about this management being honest. They were complete #$%$ to say such thing after missing earning by $2.00, closing plant because they failed to cut cost....They have lost all respect from people who were anticipated for a great outcome. If SOL was double like JKS, CSIQ, TSL in the last 3 months, it would still be ok to lose 40%. However, SOL has never run up, so this hair cut is unacceptable. This management has done everything to hurt the shareholders since Q2, from the secondary, hiding new contract news, hiding the closing plant, the sudden release of some contracts before earning, then terrible earning result, and finally, the bearish remarks for solar sector. Even CSUN knew how to put in a few good words to save its stock price. SOL, not only it did destroy its own stock, it also wanted to take everyone with it. The hedge funds and shorts should have big thanks to this management, in fact, it wouldn't surprise me to know if they had an undertable deal all along.
Someone should sue this company for fraud. By hiding bad news and delaying good news from coming into the public, they have helped the short sellers and the big funds to act accordingly before any retail investors. Retail investors could never get access to this kind of information, they are always the ones get left behind. We retails were still waiting for good earning when big funds were already in good positions for the sell off. They knew ahead of the bad news, thus no one bought shares despite the bullish in solar sector. Why is the delayed in earning? Why the sudden pop of good news prior to earning but no jump in stock price? Everything is so suspicious.
They got interpreters. Non of them could speak enough English to answer a simple question, even the CFO took forever to finish a single sentence. During the conference, non of them said anything about profitability in the near future, even in a year period. If I just lost 200mil for good cause, I would spend my time explaining it. Not here, this management was confident enough to let it go as if it was just a simple mistake. The market cap is 300-400mil and they wrote off 200mil in assets. How do they expect shareholders to feel?
Listen to the webcast. I still had some hope reading the earning statement, but after listening to the webcast, I think this management is clueless of what they are talking about and who they are talking to. They were dumb enough to be bearish after taking a 200 mil loss, it was the worst earning call I ever listened to. Even LDK management more upbeat than them.
If you are shorts, you owe the management of this company a great gratitude. Listen to the webcast and you understand what I say. I don't know who were more bearish, the analysts or the managements themselves. They lost 200mil in 1 quarter but it seemed like it was not a big deal to them. I guess free money is free anyway. They can issue more if needed. Why would the analysts give them good notes when the management was bearish on the sector themselves? All and all, the management is here to destroy shareholder values. They have done everything they could to hurt investors, this will not the last one.
I have lost too much I could not care anymore.
5 Mil loss, that is around 6c per share. However, the 200 Mil loss in Asset is the truth, and that translates to time and money wasted on this plant that they just shut down.
This company should be sued for fraud. Concealed the truth from investors: hiding good news when they need to be posted, hiding bad news when they also need to be revealed.
When you read the earning release, do you see anything that makes you cheer?
Loss is 5 times higher, cash is down (6 mil left from 70mil offering), plant shut down (less production), 8% margin ( the lowest compare to its peers)
Guidance: Module shipment is up by a little, no waffer mentioned, no revenue mention, margin = 9-11%.
Beside the low market cap vs revenue, I don't see anything positive about this company. My only wish is to get out with lower loss. Pour more money in here? No way.
You know what will come next following this result? Downgrade from analysts. That will be another hit for the shareholders.
Seriously, I'm totally speechless when I saw the result. Instead of beating the 22c loss, they missed by a thousand miles. Who on earth would not be shocking? Instead of releasing earning a month ago along with other solar, the management delayed earning to this day, just to report this huge loss. I dont know about you, but I am furious right now with this result.
Have you noticed that Cash level is only 6Mil higher than last Q? Where did the secondary money go? At this rate, when are they going to need more cash?
All shareholders got slapped by today earning release.
SOL is down 17% at the moment.
You forgot that SOL diluted its stock by 17% this quarter. Yes, that increase in ownership could be the hedge fund holding.
And seriously, although I don't want this to happen, but SOL can go down the same path as YGE if it misses earning. The stock was trading in the 2, it can go to 3 if something happens. Let me list a few scenarios: market drops by 10-20% from here, solar sector sells off, secondaries. People who bought YGE at 7, 8 wouldn't expect it to drop to 5 while market is at top, and solar is booming.
Another thing, I'm not sure if you guys notice, SOL is being treated as a missing earning stock. It follows the underperformed stocks precisely.
The other guy said "run up followed by a sell off", so my reply assumed that he meant bad news. What I just said was, if there is bad news, I would prefer a run up then a sell off, rather than a flat then a sell off.