This stock like other energy stocks has taken a beating because of high interest rates.
However, i think we might be in for change to the positive side for the following reasons:
- Interest rates are going to start coming down
2 . The stock is heavily shorted. According to finfiz its float is 83% short (march 15th datat) - This is the biggest reason:
On Wednesday, April 3, Secretary Yellen will depart Washington, DC for Guangzhou, the People’s Republic of China. On Thursday, April 4, she will arrive in Guangzhou.
The key take away i got from this article
https://home.treasury.gov/news/press-releases/jy2218
Was that China has to play fair with trade. Alot of the solar industry has suffered because China is undercutting US products which is affecting the profit for solar companies.
Position : As of now i dont have any position. Im watching and looking for opportunities.
Spwr has over 300mill in revenues per quarter. They just need to improve there probability
