Watch stocks you care about
The single, easiest way to keep track of all the stocks that matter...
Your own personalized stock watchlist!
It's a 100% FREE Motley Fool service...
Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.
So what: Yesterday Wells Fargo (NYSE: WFC ) dropped coverage on the stock, saying it wasn't a "viable Investment." Short sellers are also circling, with LDK on the "threshold securities" list for the 22nd straight day for having 10,000 shares or more failing to be delivered at the market's close. To top it off, polysilicon prices fell another 1.2% in the past week, continuing their awful year.
Now what: I put LDK Solar on the top of my list of solar's impending failures less than a month ago, and the moves in the past two days just solidify that stance. LDK is in a bad spot in the market, supplying product to manufacturers who have in-house capabilities and watching selling prices fall. Top it off with $2.1 billion of short-term debt, and you have a disaster waiting to happen. I certainly wouldn't want to own this stock and would want to be short if anything.
Interested in more info on LDK Solar? Add it to your watchlist.