Why Canadian Solar Shares Popped

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 Canadian Solar (NASDAQ: CSIQ  ) jumped 14% today after the company announced the sale of a solar power plant.

So what: The company completed the sale of the Mississippi Mills facility to TransCanada (NYSE: TRP  ) for C$61.0 million, or $57.4 million. This is a 10-megawatt plant and the fourth of nine projects totaling 86 megawatts that will be built for TransCanada for C$500 million.  

Now what: This is a nice step forward, but it's also business as usual for Canadian Solar right now. The company is a large project builder, especially in Canada, and these sales should be expected from time to time. The stock jump was assisted by a sharp rise in most solar stocks today, so don't read too much into Canadian Solar's pop.

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