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 ReneSola (NYSE:SOL) dropped as much as 12% today after the company delayed its earnings release.
So what: The company was supposed to release earnings this morning, but after the market closed yesterday it changed the release to Aug. 30. There wasn't a reason given for the delay, so it has left investors spooked.
Now what: It doesn't help that stocks are lower today. Investors never like delays in reporting because that's usually when problems arise. So far, we don't know of any major problems at ReneSola, but this is reason to take pause when looking at the stock. It will be important on Aug. 30 to hear why there had been a delay, and also if there's anything to be concerned about the company's financials, because right now is the time when the solar industry should be making a major turnaround.
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