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Obama Picks: Buy solar energy stocks SPWRA and STP

 Nov 05, 2008 04:00 PM UTC
Return Risk
+14.13% MID
Tracked Blogger
Symbol Sentiment Start Return Closed
FSLR Positive 11/05/08 -12.23% 01/16/09
CSIQ Positive 11/05/08 +85.62% --
ESLR Positive 11/05/08 -70.04% --
SPWRA n/a
TSL Positive 11/05/08 +241.09% --
STP Positive 11/05/08 -11.66% --
LDK Positive 11/05/08 -65.34% --

Graphic_arrow1 Via BloggingStocks:  

Filed under: Trina Solar ADS (TSL), Suntech Power Hldgs ADS (STP), Stocks to Buy, Green Stocks, Obama Picks

President-elect Barack Obama has often repeated his stance on alternative energy. He plans to spend $150 billion over 10 years on alternative energy, not only as part of his energy independence plan, but also in order to help clean the environment, and perhaps most important of all, to create 5 million new jobs.

With Obama winning in the polls, it is no wonder that on Tuesday solar stock prices soared: SunPower Corporation (NASDAQ: SPWRA) finished the day up 14.6%, Suntech Power (NYSE: STP) also closed 13.5% higher, Evergreen Solar (NASDAQ: ESLR) closed 12.8% higher, Canadian Solar (NASDAQ: CSIQ) was up 14.7% while Trina Solar (NYSE: TSL) gained 9.1%, First Solar (NASDAQ: FSLR) 9.6% and LDK Solar (NYSE: LDK) 4.8%. In fact, over the past week, these solar stocks added about 50% to their value: ESLR +104%, FSLR +55%, STP +53%, SPWRA +51%, LDK +48%, CSIQ +45% and TSL +41%. [Solar stocks are down this morning, seems to me a "sell on the news" decline.]

With these kind of gains recently you might think you're too late, but solar stocks have actually been beaten mercilessly in the past year. While the S&P 500 declined some 31% year-to-date and the Nasdaq declined 33%, solar stocks plunged even worse: STP -75%, TSL -73%, ESLR -69%, SPWRA -61%, CSIQ -56%, LDK -50% and FSLR -34%.

Congress passed a bill that approved about $18 billion of renewable-energy tax credits after repeated failed attempts to do so this year, and now there will be an administration that -- if it sticks to its claims -- will be more supportive of alternative energy. The only question investors should ask, so which do I pick?

Continue reading Obama Picks: Buy solar energy stocks SPWRA and STP

Obama Picks: Buy solar energy stocks SPWRA and STP originally appeared on BloggingStocks on Wed, 05 Nov 2008 11:00:00 EST. Please see our terms for use of feeds.

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Scott_christy
Scott Christy   41%     1 point   commented 228 days ago reply

This information is great but you need to narrow down which companies are going to be the best of the sector/industry. (FSLR) stands out overall in my opinion based off the financial statements of each company.

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