Renesola Ltd (SOL), $21.67, is on fire over the past several weeks since its IPO debut in January. Volume has been exploding as the stock is up almost 200% since it’s low in late March. I have been watching the stock as it has crossed dozens of nightly screens but decided not to post it to the blog until now.
If you want momentum, SOL is currently providing it. The stock was up more than 15% today on volume 409% larger than the average. At least 11 accumulations days have occurred over the past month as the stock started to log new all-time highs.
The stock is the latest in my pursuit of profits in Chinese, Solar and IPO combinations over the past 12-15 months. JASO was the original poster-child but SOL is now catching my attention. I don’t own shares as of this writing but that could change on the proper entry opportunity (I don’t have one at this time but I will update if and when it happens).
ReneSola, Ltd., through its subsidiaries, engages in the manufacture and sale of solar wafers and related products in the People’s Republic of China. It offers feedstock, ingots, and wafers for the solar industry. The company sells solar wafers to Chinese and international PV cell manufacturers.
[…] SOL Remains HOT after my post titled SOL is ‘En Fuego’ […]