Wednesday, September 10, 2008

Sunpower Update (SPWR)

On August 26 we posted "Why we Didn't get too Excited about the Sunpower/PG&E Deal (PCG; SPWR)":
...The stock opened on a nine dollar gap at $87.64 that morning and subsequently traded as high as $97.39 on the 22nd....
...I don't know if the stock will fill the gap all the way back to the closing price on the 14th, $78.57, but they often do.

The stock was at $92 and change. Yesterday SPWR traded as low as $75.39, closing at $75.55. The gap has been filled. I wouldn't do anything until it closes above that $78.57 from Aug 14, but one hurdle, the gap, has been taken care of.

Chart via BigCharts: