First Solar (FSLR -9%) falls sharply on news of its 8.5M-share sale, but MoneyBeat says the deal...

|By:, SA News Editor

First Solar (FSLR -9%) falls sharply on news of its 8.5M-share sale, but MoneyBeat says the deal is well-timed, given the stock’s near-doubling in recent months and investors’ generally warm reception to recent corporate stock sales. FSLR plans to use proceeds for potential acquisitions or investments in solar power projects; Goldman Sachs calls the move “a positive and opportunistic maneuver” to prepare for such ends.