And the interesting thing about the twenty day, 27% decline is that not a lot of people seem to have noticed. On May 17 it was reported that FSLR had become the largest solar company by market cap, in the world and on June 12 the stock top-ticked, intraday, at $306.77 (within 4% of the 2008 all-time high of $317.00) before closing at $300.72.
Here's the latest via Investing.com:
Baird lowers First Solar shares target amid revised pricing and cost guidance
Tuesday, First Solar (NASDAQ:FSLR) shares saw a revision in their price target, now set at $307, a decrease from the previous $344, while the Outperform rating remains unchanged.
The adjustment comes as Baird aligns its model with the company's average selling price (ASP) and cost per watt guidance ahead of the second quarter financial reporting.
The firm acknowledges First Solar's strong demand as the second quarter reporting season approaches, emphasizing the company's advantageous position at the intersection of several key trends. These include the increasing demand for AI and data centers, the current geopolitical tensions with China, and the rising global need for reliable power sources.
Baird's stance suggests confidence in First Solar's potential for stock appreciation, driven by a reduction in costs and the anticipated durability of pricing, which is expected to be reflected in the company's forthcoming new bookings. The firm's commentary indicates a belief that these factors will contribute positively to the company's performance....
....MUCH MORE
The article concludes by saying "This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.".
Which, if you've read enough of these things you could tell by the third paragraph.
The stock is down 40 cents in pre-market trade and posting this piece probably means it is turnaround Tuesday for FSLR. $222.32 down $0.39 (-0.18%) last.
The pre-market low was $220.0517 (08:00:01 AM).
We'll be back with another FSLR post in a couple hours.
Recently: "First Solar, Inc. Apparently A Victim Of President Biden's Debate Performance (FSLR)".
