What's Going On With First Solar Stock Thursday?
Portfolio Pulse from Nabaparna Bhattacharya
First Solar, Inc. (NASDAQ:FSLR) shares dropped on Thursday despite the inauguration of its new 3.3 GW solar manufacturing plant in Tamil Nadu, India. The facility represents a $700 million investment and is the first fully vertically integrated solar manufacturing plant in India. It is also the world's first net-zero water withdrawal solar manufacturing facility. The plant will create approximately 1,000 jobs and produce Series 7 PV solar modules, optimized for the Indian market, using a tellurium-based semiconductor to reduce reliance on Chinese silicon supply chains.
January 11, 2024 | 5:11 pm
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NEGATIVE IMPACT
First Solar's stock declined despite the inauguration of its new solar manufacturing facility in India, which is a significant expansion of its global manufacturing capabilities and a move towards sustainability with net-zero water withdrawal.
The decline in FSLR's stock price despite positive news about the new facility could be due to market conditions or investor expectations that were already priced in. The long-term benefits of the facility may not be immediately reflected in the stock price, but the short-term impact appears negative as indicated by the price action.
CONFIDENCE 85
IMPORTANCE 75
RELEVANCE 100