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SolarCity Surges to New High

*from www.buzz.money.cnn.com, May 13, 2013 (To view original article click here.)

Take Away #1: Investors can’t seem to get enough of companies that harness the sun’s power, as shares of SolarCity (SCTY) soared to an all-time high of $31.89 on Monday.

Key Facts and Figures:

  • The company has only been public for five months and shares have nearly quadrupled.
  • SolarCity had an $8 IPO price back in December of 2012.

Take Away #2: Elon Musk seems to have the midas touch, as both Tesla and SolarCity have been on a tear.

Key Facts and Figures:

  • While SolarCity, which installs solar panels, is among the smaller players, it does have Elon Musk, most associated with electric carmaker Tesla, as its Chairman.
  • Both SolarCity and Tesla have enjoyed triple digit increases in share price since the beginning of the year.

Take Away #3: SolarCity will issue its second quarterly report as a public company after the market closes Monday.

Key Facts and Figures:

  • Solar companies have struggled in recent years in the face of rising competition from cheaper solar panels manufactured in China.
  • Analysts expect SolarCity to report a loss of 25 cents a share on $29 million of revenue.
  • Investors are already looking beyond the quarter to see what SolarCity, and other solar firms, plan to do next.
  • Most recently, SolarCity completed two projects in Sacramento and announced plans to install solar panels on up to 6,500 homes in Marine and Navy bases in Hawaii.

Take Away #4: Shares of other solar firms were energized by SolarCity Monday.

Key Facts and Figures:

  • Shares of First Solar (FSLR), SunPower Corp. (SPWR), LDK Solar (LDK) and ReneSola (SOL) were on the rise.

*To view original article from www.buzz.money.cnn.com click here.

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