Stock to Sell #2 – First Solar (FSLR)
Although First Solar (NASDAQ:FSLR) is listed as part of the semiconductor group, this company makes and sells solar modules and photovoltaic (PV) solar power systems. Deteriorating fundamentals in First Solar and the solar industry overall, management turnover, and an oversupply of solar modules make this company and industry a poor investment.
Technically the stock recently broke under its 50-day moving average and a consolidation zone that started in December. This breakdown confirms that a new leg in its bear market is under way. Sell FSLR at market.