So First Solar's (FSLR) CEO Sold Half His Stake, Who Cares?

Yesterday, the market was none too pleased when they learned First Solar’s (FSLR) CEO Michael Ahearn had unloaded a total of half his stock. And now bullish Cowen has rushed to reassure everyone that Ahearn isn’t just running for the hills.

Cowen points out that Ahearn still owns a substantial stake in First Solar (over 3 million shares) and simply writes off the sale as portfolio diversification. They maintain their OUTPERFORM rating on FSLR.

We’ve heard that “substantial stake” argument before. And we can’t recall–ever, in a 15 year career–seeing the CEO of a well-positioned company dump half of his position this quickly. The company only IPO’d in November 2006.

See Also:

First Solar (FSLR) CEO Cashes Out: Should You, Too? (FSLR)

More Bad News For First Solar (FSLR) et al: GE Sees $1B Business in 3 Years (GE, FSLR)

First Solar (FSLR): AmTech Sees Buying Opportunity (FSLR, ESLR, SPWR, JASO)

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