Suntech Power Holdings (STP)

Suntech Power Holdings is having a wild ride in these last days.
Now up 28%, investors are still confused if Suntech will go into default, be saved by the China Government or neither of them. Meanwhile the stock looks way too risky for any overnight trades.

The news reports have bondholders forcing the company into an involuntary bankruptcy tomorrow if the company doesn't pay back $541 million in bonds.

Two advisers of Chinese government agencies stated that the country would not do anything to save the once-largest solar panel manufacturer, Suntech Power Holdings from its creditors since the company requires economizing along with the rest of the industry.

Maybe next week we can get a hold of what the future holds for STP.

Labels: Solar Stocks, STP, Suntech Power

posted by GM at 12:53 PM