Dow, NASDAQ up, too
The20 Solar Stocks Index (20SSI) has gained nearly 27 points since lastyear’s close Thursday of 448.15 to finish at 474.82, a 5.95% climb.Both the Dow and NASDAQ have begun 2010 well, respectively gaining 144points to 10572.02 (up 1.38%) and 40 points to 2308.71 (+1.74%) so farthis very new year.
All but three stocks of the 20SSIfinished up after today’s trading. The biggest winners were YingliSolar (up 12.6%), JA Solar Holdings (+7.59%), and Canadian Solar(+5.55%).
One year ago today when the 20SSI began tracking, theindex closed at 415.41, so the index has comeback an appreciable 14.3%in a bad financial year. Solar’s rebound really looks good comparedwith the market descent–which included all major indexes–culminatingon March 6 when the 20SSI hit 266.01. From that time solar shows agaudy 78% surge.
Chinese solar stocks have been gaining well thepast month on signs of an optimist future for the solar industry. Chinarecently made a renewable energy mandate to increase the use ofnon-fossil fuels by 15% by 2020.