First Solar’s shares have appreciated by 54% since September 30.
Barron’s has advised investors to cash in on their First Solar Inc holdings shares and pocket the big gain the shares of the solar panel maker has made in recent months.
Since the end of September, the stocks of First Solar has risen by 54% when the publication reported a story, on January 29, saying the Trump Administration is likely to apply tariffs on solar modules and cells.
Subsequently, U.S. President Donald Trump has signed into law a 30% tariff on fully assembled imported solar panels as well as the cells of which they are made.
Although, First Solar, a U.S. company is exempt from the tariff, it has hugely benefited from a surge in demand in recent months from utility customers who have rushed in to fulfil their solar needs ahead of the tariff, said Barron’s.
First Solar shares closed at $70.56 on Friday.