First Solar (NASDAQ:FSLR) news for Friday includes the solar power company seeing FSLR stock take a beating.
So what exactly is it that has FLSR stock down on Friday? Honestly, it’s hard to tell. There isn’t any specific First Solar news that would obviously be behind the drop to FSLR stock today. However, it is worth noting that the stock has been on a downward trend since yesterday.
Even knowing this, there also wasn’t any negative First Solar news from Thursday that could be carrying over into the Friday decline for FSLR stock. The market overall has seen a couple of rough days and that might be part of what has the stock down lately.
Some of the news out on Friday that has been hitting the market includes intensifying relations between the U.S. and China. There are talks that the U.S. is going to take measures to limit Chinese companies trading on U.S. exchanges. This comes as the trade war between the two countries continues.
Here’s the thing about this news, it doesn’t directly affect First Solar. The company’s manufacturing facilities are located in Malaysia, the U.S. and Vietnam. It’s possible that overall worries about the issue are just keeping the markets down in general and First Solar is simply a casualty in all of this.
FLSR stock was down 6.50% when the markets closed on Friday. Despite this drop, the stock is still up 37.36% since the start of the year.
As of this writing, William White did not hold a position in any of the aforementioned securities.