Trump Calls Windmills, Solar ‘The Scam Of The Century’
$TAN $RAYS $ICLN
https://stocktwits.com/news/equity/markets/trump-calls-windmills-solar-the-scam-of-the-century/chsiApvRdhZ
$RAYS - Global options price warning: put open interest is down to 0.0 https://www.macroaxis.com/stock-options/RAYS/Global-X-Solar?utm_source=dlvr.it&utm_medium=stocktwits
$FSLR $JKS $RAYS $TAN $TSLA they are already too high in the US the tariffs will not do diddly squat to the price. It takes an arm and a leg to get them installed.
US imposes new tariffs of up to 3,521% on solar imports from 4 Southeast Asian countries
The proposed levies - targeting companies in Cambodia, Thailand, Malaysia and Vietnam - are in response to allegations of subsidies from China & the dumping of unfairly cheap products in the US market.
A separate US govt agency, the International Trade Commission, is due to reach a final decision on the new tariffs in June.
Cambodia face the highest duties of 3,521% because of what was seen as a lack of cooperation with the Commerce Dept investigation.
Products made in Malaysia by Chinese manufacturer $JKS faced some of the lowest duties of just over 41%.
Another China-based firm, Trina Solar, faces tariffs of 375% for the products it makes in Thailand.
$FSLR $TSLA $RAYS $TAN
$SEDG I am bullish on it for following reasons:
1. $SEDG had a bullish news regarding new software capabilities for SolarEdge ONE (for C&I Energy Optimization Platform)
2. Post presidential debate, solar investors see a Harris win as more likely (not a political statement)
3. $TAN (Invesco solar ETF) + $RAYS (Global X Solar ETF), the two biggest stock holders are also bouncing (their RSIs are rising)
4. The entire solar sector is bouncing, however, $SEDG has recently been relatively weak (this could be a positive and negative - more room to rise, but if the sector stalls, this could be one of the first ones to drop)
5. The institutional ownership for $SEDG is at 104.24% and short float is at 33.38% (if it continues to rise, shorts will have to cover)
6. It gapped up this morning by 7.73% with a large buying candle at 4am, then it was mostly buying all day (buying volume bars), but the price didn't move much
7. The $SEDG options expiring next week (monthly) have the Put/Call Open Interest Ratio of 0.28, which is very bullish
I don't have a proper trading thesis on it yet, but I will continue to watch it for a squeeze in the next few days along with other solar stocks
$RAYS It's probably time to reload with Meyer Burger in RAYS etf? It’s a small promising solar company. Meyer Burger is confident that US-based financial incentives will help secure additional funding for its US projects, with Meyer Burger estimating that compliance with the 45X regulations will generate an additional US$300 million in funding through tax credits, and expecting to secure a loan from the US Department of Energy to generate an additional US$200-250 million.
https://renewablesnow.com/news/meyer-burgers-expansion-buoyed-by-2-new-offtake-deals-818299/
$spy $QQQ $RAYS $TAN $CNRG
Pretty damning for US solar manufacturers especially First Solar
https://finance.yahoo.com/news/eu-clears-law-increase-domestic-140613769.html
Solar Is Leaving Wind In The Dust As World Renewable Energy Hits New High https://www.benzinga.com/markets/esg/24/05/38759168/solar-is-leaving-wind-in-the-dust-as-world-renewable-energy-hits-new-high
$RAYS $TAN
