Monday, August 25, 2008

Trina Solar expands polysilicon purchases (TSL)

UPDATE above.
We'll stick with what we said July 18:
This is the flush. The stock was recently at $28.00 after bottoming at $26.58. As we said when they announced the financing "Good idea, bad timing"....
The stock has traded as high as $34.91 today and was at $34.05 recently. I don't think the Goldman analyst is going to see the $23.00 they predicted. For those keeping track, TSL traded as low as $25.50, $25.33 and $25.38 on July 24th, 25th and 28th respectively.

From Reuters:
Solar module maker Trina Solar Ltd (TSL.N: Quote) said on Monday it had expanded a polysilicon supply agreement with GCL Silicon Technology Holdings Inc.

Trina's Changzhou Trina Solar Energy Co unit increased the amount of polysilicon it would buy from GCL to a level that would allow it to produce 4,825 megawatts of photovoltaic solar modules over eight years from the 2,600 megawatts it had announced in April....