Hoku Scientific (HOKU) has served up an extremely wild ride for investors, just recently poking it’s head above all-time highs near $15 and quicly falling back below $9.
They are in the ‘hip’ clean-tech space and work from the lovely state of Hawaii. I believe pineapples fuel their technology and pineapple prices have been flying. That could be the reason the stock has come down.
It could also be because we are in a bear market and the Company still has a $150 million market cap with $4 million in sales, but that’s just a guess :) .
By the way, I made up the pineapple stuff.
In crappy markets, ‘buzz’ won’t cut it…sales and margins do.
I said at the beginning of the year that solar and clean tech stocks would fall 50 percent at some point. They are getting their quickly. Those that have no business may not bounce back so fast if the overall market does not heat up quickly. If you must invest in solar, stick to the true leaders in this nasty decline.
Brian has the pricing picture for us as well.
Disclosure – No position