6/20/08

ESLR Update

Talk about volatility. I bought Evergreen Solar in May for $10.40 a share. Since then, it has gone as low as $9.50 and, yesterday, as high as $12.30. That's down 8.7% from my purchase price, to up 18.3% from my purchase price (and up 29.4% from the low) all in the space of about a month. And as of writing the stock's down some 3.4% today, trading at $11.88.

This one's definitely not for those with a weak stomach or prone to emotional decision making. Had I been watching the price yesterday, I'd probably have sold. It remains to be seen if that would have been the right or wrong thing to do.

The latest catalysts for the upswing were a couple of supply deals and an upgrade by Lehman.

Although, I think the stock will be much higher a year from now, as I wrote when I first bought it, I still have a limit order at $8.60 (this might get lower as the stock approaches this price) for the other half of my planned purchase.