The solar stocks are spiraling downwards, post German announcements of the FIT cuts that will be imposed this year. Germany has, thus far, been the world's largest market for solar products.
First Solar's stocks are down US$2.60 or 6.43 percent to $37.85, as of 10:50 am eastern time as NASDAQ shows. Other companies are also taking a hit. On the New York Stock Exchange, Suntech Power Holdings was standing at $3.29, down $0.21 or six percent, LDK Solar fell by 1.46 percent to $6.06, Yingli Green Energy's stocks fell by 6.24 percent to $4.06 and SunPower Corporation is currently trading at $7.97, down by 3.16 percent. Trina Solar's prices were down 7.58 percent at $9.02 at the time of writing.
Trina Solar's stocks were also affected by the fourth quarter (Q4) and fiscal year 2011 results made by the company. Notable sequential shipment growth was achieved in Q4, but growth in worldwide photovoltaic module capacity and peaked channel inventory resulted in significantly lower product prices, which adversely affected bottom line results.
As of the end of January, statements made by several Chinese solar company CEOs that China was heading for a solar boom year in 2012, with expected expansions of four to five gigawatts in installed capacities sent solar stocks heading upwards into the last weekend of January.
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