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Solar posts big gain (week ending 8/22/08)
Posted on August 25, 2008
Author: Mark HenwoodEmerging markets, EAFA, and the US market (S&P 500) were little changed on the week, commodities (DJP) rose 2.8%. Sustainable energy stocks created some excitement but overall were mixed: Solar raced ahead for the week rising 9.5% driven by a variety of positive developments. Three of the index components China Sunergy (CSUN), Suntech Power Holdings (STP), and Rensola (SOLA.L) all rose over 25% for the week..On the cost side silicon supplies are expected to increase in 2009 resulting, according to Suntech Power Holdings (STP), in a potential price drop of up to 20%. This m...
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