This Day On The Street
Continue to site right-arrow
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Solar Losers: GT Solar, Jinko Solar

Stocks in this article: SOLR JKS TSL

It was certainly an opportune time to sell GT Solar shares. Year-to-date, GT Solar shares have risen more than 32% and just last week were trading at a 52-week high of $8.80.

The minor pain suffered by GT Solar shares on Thursday was reversing early on Friday, too, with GT Solar shares among the most active on the Nasdaq, and showing among the largest pre-market gains.

From a sector-perspective, there could be more secondary offerings from solar companies and the profit-taking that is always common in a sector like solar after a big rally. Solar sentiment tends to swing abruptly, and with share prices having recovered to near-2010 highs for many of the companies, there could be an argument made to act on raising capital sooner rather than later. While the solar commentary right now is that fears of a 2011 slowdown are overdone, visibility is far from a sure thing in this hyper-sensitive sector.

For much of 2010, solar shares were so depressed that a new common share secondary offerings may have been too painful for investors to digest. Trina Solar (TSL) got what was expected to be a big round of secondary offerings started near the beginning of the year. Yet, once the euro began to tumble and solar shares along with it, the secondary market became a less palatable option for financing, and other solar secondary deals didn't follow.

Solar shares have rallied significantly and some recent rising solar stocks have been rumoured as likely candidates for a secondary, such as Jinko Solar (JKS).

Mark Bachman, analyst at Auriga Securities, who had been at a buy on Jinko as shares ran from the IPO price of $11 to above $30 this week, took down his rating to a hold this week, and referenced a potential secondary. Timing may be an issue for Jinko, too, as profit-taking after its big run seems to have begun en masse. On Thursday, Jinko shares slid 11% on volume of over 1.5 million shares, dropping below the $25 mark.

The Jinko Solar loss on Thursday was not in line with the performance of the solar sector.

-- Written by Eric Rosenbaum in New York.

>To contact the writer of this article, click here: NAME.

>To submit a news tip, send an email to:


Copyright 2009 Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
2 of 2

Select the service that is right for you!

Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!


DOW 18,030.21 +6.04 0.03%
S&P 500 2,081.88 -0.29 -0.01%
NASDAQ 4,773.4720 +8.0480 0.17%

Brokerage Partners

Rates from

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs