Solar Stocks Gapping Up

The market should open today with a decent Gap Up.

Let's see how far the Bulls will go. Many solar stocks are gapping more than 3%.
STP 3.2%
TSL 4.6%
CSIQ 2.3%

SolarFun (SOLF) reported earnings and is gaining 11% on the Pre-Market.

FIRST QUARTER 2010 HIGHLIGHTS

Total net revenues were RMB 1,475.8 million (US$216.2 million) in 1Q10, an increase of 17.8% from 4Q09 and an increase of 115.7% from 1Q09.

PV module shipments, including module processing services, reached 150.6 MW, an increase from 110.8 MW in 4Q09 and from 35.7 MW in 1Q09.

Average selling price, excluding module processing services, declined, as expected, to US$1.76 per watt in 1Q10.

Gross profit was RMB 272.5 million (US$39.9 million) and gross margin was 18.5%.

The main Solar Stock ETF looks like this, but expect a good bullish move for today:

Labels: solar ETF, Solar Stocks, Solarfun, SOLF, STP, Suntech Power, TSL

posted by Ertai at 8:27 AM