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Thursday, May 29, 2008

The ESLR battlefied

Evergreen Solar (ESLR 11.26) was downgraded to sell by Merrill Lynch today, and was downgraded to sell last week by Citigroup.

The CEO was on Mad Money last Friday, and yesterday he touted profitability by Q1 of 2009, with 850 mw of production by 2012 versus the current 15.

A week ago, ESLR announced two purchase contracts for $1 billion of solar panels.
http://biz.yahoo.com/bw/080522/20080522005517.html?.v=1

Why does Wall Street hate this stock?

Maybe because there's 20 million shares short and buyers actually want their stock and the back offices are having trouble delivering it?

I'd buy the stock if it pulls back on the sell downgrade. This sell downgrade is as good as Dick Berner's call at Morgan Stanley that oil is going to $150.
http://aaronandmoses.blogspot.com/2008/05/flip-flops.html

The call will be good for only a day.

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