Solar Stocks Crumble on Germany Subsidy News
Green Stocks Central
Solar stocks have been hit hard over the past hour as Reuters reported Germany would begin cutting subsidies by 16 – 17%in April.
German cuts have long been expected, but some had called fora 10% reduction later in the year, so this is a bit more than what someexpected. Not to mention solar stocks (the China names in particular)have been on a tear, so any negative news was bound to throw them fromthe perch. According to German government and industrial sources, morecuts could come in 2011. This is great news for those that may havemissed the initial run in the China solar plays. You may get a 2ndchance.
Trina Solar (TSL) and Canadian Solar (CSIQ) which have had the biggest runs, are getting hit the hardest down around 10%.
Solar Stocks Hit As Germany To Cut Subsidies 17%, Possibly More In 2011
