First Solar, Inc. (NASDAQ: FSLR)
First Solar didn't look like it was going to have the best of days in the market today. In fact, at the opening bell, the stock was trading well into the red. However, shortly after the market opened, the stock started screaming for the top, quickly making it to the green and beyond. Below, we'll talk about what we're seeing from FSLR, why, and what we'll be watching for ahead.
What We're Seeing From FSLR
As mentioned above, First Solar wasn't off to the best of starts in the trading session today. Unfortunately, when the session opened, the stock was already trading well into the red. Nonetheless, shortly after the opening bell, the stock started to make a run for the top. Currently (9:50), FSLR is trading at $35.22 per share after a gain of $0.49 per share (1.41%) thus far today.
Why The Stock Is Climbing
As is almost always the case, our partners at Trade Ideas were the first to inform us of the gains on FSLR. As soon as we received the alert, the CNA Finance team started working to see why the stock was running for the top. While we were unable to find any fundamental news that would lead to such gains, we did see a rumor in the social space that we believe to be the culprit.
At the moment, there's an interesting rumor surrounding First Solar in the social space. That rumor is that the company will soon be acquired. The rumor suggests that Berkshire has made a bid to buy the company at about $60 per share. However, there has been no confirmation from either side just yet.
What We'll Be Watching For Ahead
Moving forward, the CNA Finance team will be keeping a close eye on FSLR. In particular, we're watching to see if there is any validity to this rumor. Considering the current share price and the rumored acquisition price, I'm not expecting this to actually happen. However, if it does, it will be big for shareholders. We'll be keeping a close eye on the news and bringing it to you as it breaks!
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