ReneSola Ltd. (NYSE: SOL) is surging this morning. Goldman Sachs raised its rating to BUY from Neutral and called it digit of the solar industry leaders finished the current downturn. This is based upon its cost structure, downstream creation integration and its significant danger to the Chinese market as a low-cost manufacturer. The gain this farewell is despite the consort saying it expects losses after it announced involvement in a $706 meg solar pact in China. As of 9:25 AM EST we have shares up 13% at $5.55 (had been up 20% at digit point earlier) on 235,000 shares. Average volume is about 2.8 meg shares per day and the stock is still way down from its 52-week high of $19.70.
-JON OGG
Thursday, August 20, 2009
ReneSola Running on Two Items (SOL)
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