Mad Money's Jim Cramer on Solar and Wind Stocks: Sell! Sell! Sell!
On the heels of disappointing financial news from Danish wind giant Vestas, Mad Money's Jim Cramer issued a damning blanket statement on all solar and wind stocks yesterday because of his concerns about whether or not these stocks are viable businesses without government subsidies.
While Cramer is now pounding his "sell" button for these stocks, Mad Money fans may remember how much he liked First Solar (FSLR) back in 2007, when the stock ran up from less than $30 per share to more than $300 per share. It should be noted that some financial analysts still like First Solar-- Fortune magazine picked the company as one its "100 Fastest-Growing Companies."
Cramer is now on the bandwagon for Cree Inc., (CREE) which he says is now selling for an "absurdly low" price, at about $58 per share.
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Jim Lucy Blog
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Jim Lucy has been wandering through the electrical market for more than 30 years, most of the time as an editor for Electrical Wholesaling, Electrical Marketing newsletter and CEE News. During that time he and the editorial team for the publications have won numerous national awards for their coverage of the electrical business. He showed an early interest in electricity, when as a youth he had an idea for a hot dog cooker. Unfortunately, the first crude prototype malfunctioned and the arc nearly blew him out of his parents' basement. Before becoming an editor for Electrical Wholesaling magazine and Electrical Marketing, he earned a BA degree in journalism and a MA in communications from Glassboro State College, Glassboro, NJ., which is formerly best known as the site of the 1967 summit meeting between President Lyndon Johnson and Russian Premier Aleksei Nikolayevich Kosygin, and now best known as the New Jersey state college that changed its name in 1992 to Rowan University because of a generous $100 million donation by N.J. zillionaire industrialist Henry Rowan. Jim is a Brooklyn-born Jersey Guy happily transplanted in the fertile plains of Kansas for the past 20 years.