Poor economic data gets blame
The Dow Industrials slipped over 1.9% in May, the first monthly drop in six month. The Dow closed Tuesday a 12570, 241 points down from April. The NASDAQ fared only slightly better with a 1.35% drop to finish at 2835, a 38-point slide from last month. Eighteen in the 20 Solar Stocks Index (20SSI) were slammed in May with the index finishing at 393.55, a 47-point slip or nearly 12%.
Only 38,000 jobs were added last month when analysts projected 175,000. Also, the Institute for Supply Management reported growth in the U.S. manufacturing sector slowed to 53.5% in May from 60.4% in April, the largest one-month drop since 1984.
Supplies of solar panels are backing up, according to a source for this blog, and some major manufacturers appear to be dumping modules at unprecedented low pricing. It would appear a good time for consumers to add solar power to their homes. The question is how many are in a position to do so.
20 Solar Stocks Index as of 5/31/11
|Close 4/29/11||Close 5/31/11||Up/Down||% Change||Close 1/5/09*||Close 3/6/09**|
|Dow Jones DJIA||12810.54|| 12570||-240.54||-1.913%||8952.89||6626.95|
|Amtech Systems ASYS||22.68||21.88||-.80||-3.656||4.00||2.73|
|Applied Materials AMAT||15.69||13.78||-1.91||-13.86||10.67||8.70|
|Canadian Solar CSIQ||10.80||9.85||-.95||-9.644||7.00||3.0601|
|ECD (UniSolar) ENER||2.00||1.40||-.60||-42.86||29.33||17.45|
|Entech Solar ENSL.OB||.0433||.09||+.0467||+207.8||.28||.23|
|Evergreen Solar ESLR||1.35||.70||-.65||-92.85||3.60||1.03|
|First Solar FSLR||139.57||124.25||-15.32||-12.24||157.80||108.49|
|GT Solar Int. SOLR||11.17||12.76||+1.59||+14.23||4.00||4.02|
|Hanwha SolarOne HSOL f/k/a Solarfun||6.83||6.73||-.10||-1.485||6.12||2.30|
JA Solar JASO
|LDK Solar LDK||11.51||7.59||-3.92||-51.64||14.84||4.40|
|MEMC Elect. WFR||11.83||10.52||-1.31||-12.45||15.76||13.68|
|Trina Solar TSL||28.47||22.95||-5.52||-24.05||10.09||7.23|
|Westinghouse Solar (Akeena) WEST||.455||1.13||+.675||+48.35||2.28||.61|
|20SSI Weekly Cumulative:||Previous 440.42||Current 393.55 ||Change -46.87/11.9%||1/05/09* 415.41||3/06/09** 266.01|
* The starting date of the 20 Solar Stock Index (20SSI).
** The Concensus "new" bull market began on Monday, March 9, 2009.
NOTE: All above stocks have market capitalization of $100M+ except Westinghouse Solar (formerly Akeena), Amtel Systems
and Entech Solar. This listing is strictly informational and implies neither endorsement or disapproval of any stock listed. Comments are always welcome.