Friday, February 26, 2016

SunEdison Has Doubled In Under 48 Hours (SUNE)

$1.26 at the close on Wednesday, $2.53 last.
Here's the last 10 months action via FinViz:
SUNE SunEdison, Inc. daily Stock Chart
The double is over there on the right.
Here's the latest, from Bloomberg: 

SunEdison, Vivint Surge as Judge Clears Path for Acquisition
SunEdison Inc., the world’s biggest clean-energy developer, rallied the most in 14 years after a judge in Delaware rejected a plea to block a portion of its $1.9 billion acquisition of Vivint Solar Inc.
SunEdison gained 35 percent to $2.32 at 10:09 a.m. in New York, after earlier surging as much as 61 percent, the most intraday since October 2001. Vivint rose as much as 38 percent, the biggest gain since the acquisition was announced in July.

The news dragged down shares of TerraForm Power Inc., the yieldco unit formed by SunEdison to buy and operate power plants. As part of the complicated deal, TerraForm has agreed to pay $799 million to acquire some of Vivint’s assets. That’s the component of the transaction that was contested in the Delaware case. TerraForm slipped as much as 6.7 percent.

The ruling will let SunEdison move forward with the Vivint deal, a transaction that’s been under scrutiny from shareholders and investors. SunEdison shares have plunged more than 90 percent since announcing plans to buy Vivint and expand into the residential solar market. The terms were renegotiated in December and SunEdison has said it wants to close the deal this quarter....MORE
Good grief, it reads like a press release from an '80's Vancouver deal.
There are higher quality ways to get exposure to the solars should one so desire.