Solar Stocks Drop with Broad Market
The US stock markets took a beating today with the Dow giving back most of its Monday gains. It is quite a roller coaster ride now with a great deal of money leaving US & international mutual funds and heading into cash. How are solar stocks doing? Going down. Just a quick sample: Trinasolar [NYSE: TSL] was down 10% to $24.49 & Suntech [NYSE: STP] was down almost 11% [$4.40] to $36.67. Oil prices have decreased the last few weeks as the market has decided that an economic slowdown will decrease demand for oil & gas & therefore the recent rush to green energy.
