SolarCity Shares Increase by 50% after it Made its Market Debue
SolarCity shares were up nearly 50% Thursday as the Silicon Valley solar installer made its market debut and raised $92 million.
The first-day pop follows a tumultuous week that saw SolarCity reduce the price range for the initial public offering from $13 to $15 a share to $8 a day before the company was to go to market.
So basically the share price has risen to just less than the initial price that SolarCity were going to offer.
Still, 50% is 50%, and SolarCity will be very happy.
Well done to anyone that bought shares at the opening price of $8.
I wonder who they were trying to pay off. Follow the money!
Thanks Cyth for highliting a good shorting opportunity. The economics just don't work for these companies. Are they receiving subsidies?
Can anyone list any alt energy plays that actually made their investors money?
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