NEW YORK (
) -- Are shares of
finally set to rally, or is it just a bullish stock futures market on Monday sending the solar inverter company higher in pre-market trading?
Solar inverter company Power-One had among the market's biggest weekly losses last week, declining by 25% through the close on Friday. Power-One shares were up 140% for the year previous to last week's plummet, and in the volatile world of momentum solar stocks, one could argue Power-One shares were due for a fall.
Are they now in oversold territory? It's tough to make a call based on limited pre-market activity and considering the shorts who are clearly interested in driving this stock down. Last week, Power-One had among the largest pre-market gains on the Nasdaq on Thursday and Friday, after its big drop on Wednesday. Yet pre-market volume was light and once the markets opened, Power-One shares continued their slide.
On Monday morning, Power-One share volume in the pre-market was over 11,000, but still nowhere near a high enough level of action to suggest that its pre-market gain of close to 4% was going to extend into the regular trading session.
In any event, after losing 25% last week, Power-One is certainly a stock to watch when the markets open on Monday morning. None of the other solar inverter stocks --
Advanced Energy Industries
( SATC) or Germany's
were active in early Monday trading.
--Written by Eric Rosenbaum in New York.
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