First Solar missed big on both the top and bottom line and is down 8 percent in after hours trading. Fast Money interviewed Axiom Capital analyst, Gordon Johnson, who has been spot-on with his analysis,
“the fact that banks are becoming cautious on First Solar projects suggests there’s a fundamental problem. It’s as if Intel was selling laptops that aren’t working. This is new. This is huge and this is potentially a game ender. The reason we don’t have a zero price target on this company is because they have these projects they can sell. I don’t know who would buy these projects now.”
He cites the following slide from their earnings presentation today to illustrate their panels “aren’t working.” Click here to view full interview.
Gonna be interesting tomorrow to see if the sharks smell blood.
(click here if chart is not observable)