Hoku Signs Major Deal
Hoku Scientific, Inc. (NASDAQ: HOKU) is beating new records in one day gains, today gaining 118%!The energy technology developer signed a contract worth more than seven times the company's market value.
Hoku Scientific said a division dedicated to making polysilicon for solar panels signed a seven-year deal worth as much as $370 million with Sanyo Electric Company Ltd. Hoku, which reported revenue of $5.5 million in 2005, plans to spend $260 million building a plant able to produce 2,000 metric tons of polysilicon per year.
The market reevaluated this stock quickly, and opened with a 86% up move. We should see the continuation of these gains in the following weeks, even if its only momentum driven.
Other Solar Stocks, Evergreen Solar and Suntech Power Holdings, were down for the session.
posted by IntoBlogs at
2:13 PM
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