First Solar (FSLR) had a great Q2, posting impressive upside on both EPS and revenue. So after soaring to near record-highs (~$315) immediately after the results, why is the stock now floundering around $250? Was a 100+ P/E just too high? Was even the best execution not good enough for FSLR bulls?
Yes and yes. But the real force at work here is that the lower oil goes, the lower First Solar’s stock goes.
This correlation won’t likely be permanent (one hopes that the demand for solar is now sustainable, regardless of what oil does). But for now, it’s most of what matters.
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