Amazing chart, everything about this stock makes me want to growl like a grizzly. I posted last night (btb also noted) that FSLR looked like a great short and fortunately for those who wanted in it gapped up when Morgan Stanley upgraded the most expensive stock in the entire market this morning. "Morgan Stanley, now sees FSLR reaching (maintaining) $275 a share saying the company should benefit from the weaker dollar." Huh?, thats funny because FSLR currently sports market cap of $18.5B yet in the last year they only brought in $356M in revenue, $107M of which was net income (PE of 173). Ok, revenues quadrupled last year but the stock went up 900% in 2007. And besides, FSLR was just above $275 and it could not maintain. If an upgrade can't keep this drunk climber going I don't know what can. Click on the chart above, still looks great.Here's a FSLR chart I posted back in July just to give you a feel for how its parabolic move began last year. Note how crazy it looked back then and think about it more than doubling from there before 2008:
Disclosure: I took some profits on FSLR puts today, added some new ones.
1 comment:
"If an upgrade can't keep this drunk climber going I don't know what can"... lol classic.
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