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.
A top stock for 2014
Canadian Solar is off to a great start to the year, but what other stocks should you be looking at this year? The Motley Fool's chief investment officer has selected his No. 1 stock for 2014, and it's one of those stocks that could make you rich. You can find out which stock it is in the special free report: "The Motley Fool's Top Stock for 2014." Just click here to access the report and find out the name of this under-the-radar company.