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SolarCity (SCTY) -4.9% after getting hit with a downgrade to Neutral by Goldman's Brian Lee in...

SolarCity (SCTY) -4.9% after getting hit with a downgrade to Neutral by Goldman's Brian Lee in response to a 45% rally over the last month. While noting SolarCity shares have benefited from First Solar's guidance and optimism about the solar financing market, Lee considers "near-term catalysts being more mixed and unlikely to drive sufficient stock appreciation to warrant a Buy rating." Shares have more than tripled from their Dec. IPO price of $8.
Comments (9)
  • pat1000
    , contributor
    Comments (474) | Send Message
     
    GS no friend to SCTY having made them cut the offering price from 15 to 8-----then of course recommending the stock as all underwriters do----
    Now GS cuts SCTY from a forced buy to neutral---
    Hope SCTY learned their lesson never to believe anything GS says------
    2 May 2013, 11:42 AM Reply Like
  • ThomLandon
    , contributor
    Comments (159) | Send Message
     
    GS - the vampire squid speaketh
    2 May 2013, 01:18 PM Reply Like
  • Curt Renz
    , contributor
    Comments (182) | Send Message
     
    The analyst's comment pushed SCTY down $4 at the opening. Now it's down 65 cents. Those who sold may regret it when Elon Musk comes out with his promised Supercharger announcement. SolarCity builds the free Supercharger stations for Tesla Motors. Musk is the chairman of both companies.
    2 May 2013, 02:02 PM Reply Like
  • pat1000
    , contributor
    Comments (474) | Send Message
     
    Here's a scenario that might have taken place at GS-----SCTY doubles from offering price-----now all GS clients have huge gains so GS takes them out and says SCTY is overpriced so they build up a short position-----but SCTY keeps going up even more than triples so GS starts shorting the stock but it keeps going up so GS down grades the stock and it drops from 28 to 24 this morning----but SCTY doesn't stay down and has now fought it's way back to 27---

     

    And what happens if SCTY closes above 27.75 (which was the true close and not the after-market of 28)----
    If this all took place GS has a lot of explaining to do-----
    2 May 2013, 02:03 PM Reply Like
  • Curt Renz
    , contributor
    Comments (182) | Send Message
     
    Perhaps that Supercharger announcement will come tomorrow. It was supposed to be the next in line for the announcements Musk said would come with a cadence of every one to two weeks.

     

    A half hour ago Musk tweeted:

     

    "Time to up the ante (and fix some mistakes). Tesla announcement tomorrow."
    2 May 2013, 02:28 PM Reply Like
  • pat1000
    , contributor
    Comments (474) | Send Message
     
    Something is up----it's not Joe blow who bot over 500 May 30 calls when the stk was down this AM
    2 May 2013, 02:34 PM Reply Like
  • Curt Renz
    , contributor
    Comments (182) | Send Message
     
    Apparently Musk's announcement tomorrow will not be about Superchargers. In response to a retweet asking if it was, Musk replied:

     

    "This is about getting a prior announcement right. Not part 4 yet."
    2 May 2013, 02:38 PM Reply Like
  • pat1000
    , contributor
    Comments (474) | Send Message
     
    Curt
    Doesn't matter to SCTY it would really be something if it closes at a new high however--------
    2 May 2013, 02:47 PM Reply Like
  • Curt Renz
    , contributor
    Comments (182) | Send Message
     
    @pat1000
    SolarCity builds Tesla's Supercharger stations. Indeed, a new high would be cause for smiles except by the GS analyst and those who reacted hastily.
    2 May 2013, 03:09 PM Reply Like
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