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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: Blame Robert W. Baird for the fall. The firm cut its rating on First Solar shares from "outperform" to "neutral," citing yesterday's guidance. Peer MEMC Electronic Materials (NYSE: WFR ) also fell, closing down a little more than 5%.
Now what: Though yesterday's sell-off was fueled by lower prices, tighter margins, and weakening market conditions, today's action was based no new information and, as a result, was probably overdone. Do you agree? Would you buy shares of First Solar at current prices? Let us know what you think using the comments box below.
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