Why First Solar's Shares Jumped

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.

What: Shares of First Solar (Nasdaq: FSLR  ) jumped as much as 13% today, the second jump of at least 10% in as many weeks.

So what: Today's move was a result of Los Angeles County Department of Public Works giving final approval to First Solar to complete the 230 MW Antelope Valley project it is building there. Inspectors brought the project to a screeching halt when a county inspector refused to certify electrical connectors First Solar was using on the project. The connectors had been used in other projects built by First Solar without issue.

Now what: This is the type of regulatory burden that is slowing solar in the U.S., and it appears that the inspectors simply needed more information because this was their first major project. Left hanging in the balance were investors and 230 workers who were furloughed during the delay. But never fear, the project is back on and investors are cheering the move today. This alone doesn't make me bullish on First Solar, but it's an incremental positive for shareholders.

Interested in more info on First Solar? Add it to your watchlist by clicking here.

Fool contributor Travis Hoium does not have a position in any company mentioned. You can follow Travis on Twitter at @FlushDrawFool, check out his personal stock holdings or follow his CAPS picks at TMFFlushDraw.

Motley Fool newsletter services have recommended buying shares of First Solar. The Motley Fool has a disclosure policy. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. Try any of our Foolish newsletter services free for 30 days.

Read/Post Comments (0) | Recommend This Article (3)

Comments from our Foolish Readers

Help us keep this a respectfully Foolish area! This is a place for our readers to discuss, debate, and learn more about the Foolish investing topic you read about above. Help us keep it clean and safe. If you believe a comment is abusive or otherwise violates our Fool's Rules, please report it via the Report this Comment Report this Comment icon found on every comment.

Be the first one to comment on this article.

Compare Brokers

Fool Disclosure

Sponsored Links

Leaked: Apple's Next Smart Device
(Warning, it may shock you)
The secret is out... experts are predicting 458 million of these types of devices will be sold per year. 1 hyper-growth company stands to rake in maximum profit - and it's NOT Apple. Show me Apple's new smart gizmo!

DocumentId: 1921758, ~/Articles/ArticleHandler.aspx, 10/26/2016 4:02:40 PM

Report This Comment

Use this area to report a comment that you believe is in violation of the community guidelines. Our team will review the entry and take any appropriate action.

Sending report...

Today's Market

updated Moments ago Sponsored by:
DOW 18,214.74 45.47 0.25%
S&P 500 2,139.78 -3.38 -0.16%
NASD 5,254.51 -28.89 -0.55%

Create My Watchlist

Go to My Watchlist

You don't seem to be following any stocks yet!

Better investing starts with a watchlist. Now you can create a personalized watchlist and get immediate access to the personalized information you need to make successful investing decisions.

Data delayed up to 5 minutes

Related Tickers

10/26/2016 3:46 PM
FSLR $41.19 Up +0.51 +1.25%
First Solar CAPS Rating: ***