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Solar City (SCTY) Rises on Acquisition

  +Follow October 16, 2013 11:15AM
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Shares of the solar panel installation outlet SolarCity Corporation (SCTY) continued their ascent on Oct 16 after the company revealed they had acquired rival Zep Solar. This comes just a few days after the company raised guidance and announced they expected installations to increase 80 percent in 2014.

The sunny projections coupled with the Zep Solar buyout sent SolarCity’s stock to its all-time high. The company’s shares have risen 290 percent on the year, as SolarCity has become arguably the hottest stock in the tech sector.

This is unsurprising, as SolarCity is the brainchild of wunderkind industrialist/Wall Street golden child Elon Musk. Musk is both the Chairman of SolarCity and the CEO of electric carmaker Tesla Motors (TSLA) , whose shares have risen a whopping 443 percent this year.

The growth potential of SolarCity is beginning to dawn on investors, who have been increasingly flocking to the stock like moths to a solar-powered lightbulb. Volume on Oct 16 was four times what it normally is, with just under 12 million shares trading hands as of midday.

Particularly attractive to investors is SolarCity’s growing customer base, which increased from right over 50,000 at the end of the fourth quarter of 2012 to an estimated 82,000 as of Sept. 30.

Whether SolarCity’s shares are due to come back to Earth or are still yet to reach their apex will become clear as day when the company releases its earnings report the first week of November.

Shares of the San Mateo, Ca.-based company rose 12 percent in early trading to hit  $52.16 a share.

 

(image courtesy of Wikimedia Commons)

DISCLOSURE: The views and opinions expressed in this article are those of the authors, and do not represent the views of equities.com. Readers should not consider statements made by the author as formal recommendations and should consult their financial advisor before making any investment decisions.


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Results for SCTY
Flux
30 Oct 14 11:10:09
$SCTY drove right up to inv h&s neckline.... nice
Eternity101
30 Oct 14 10:48:41
RT @tymorapro: $SCTY: At 1DyHIGH=55.26, hits:3, ch:+1.7%, 14phNewHi:BrkPLo[+3.8%], AtPivR1, 1mMv:+3, 34:3Accel+, tf:1011111, MedFlt:56M, Hi…
Alexander Morris
30 Oct 14 10:48:18
$SCTY: At 1DyHIGH=55.26, hits:3, ch:+1.7%, 14phNewHi:BrkPLo[+3.8%], AtPivR1, 1mMv:+3, 34:3Accel+, tf:1011111, MedFlt:56M, HiPctSht[25%:2d]
Flux
30 Oct 14 10:45:45
$SCTY from 50 shown here, finally may try over the long channel bottom line again and 56.5 is the inv head and shoulder neckline breakout
Abhishek Shetty
30 Oct 14 10:26:37
$SCTY GOOD MOVE THIS..$55.00..CAN SEE LEVELS OF $58.50-62.50 HERE..GOOD VOLUMES..
US_proptrader
30 Oct 14 09:56:25
$ASPS $CMCM $IG $JMEI $LOCK $MNKD $NLNK $RGLS $SCTY autocharts @ http://t.co/hj7PGeTQk3
Joe Rescino
30 Oct 14 09:29:26
$SCTY wants to go green . Very close now .
CZ Technologies, LLC
30 Oct 14 09:28:20
Milwaukee Public Museum dedicates solar panel wall http://t.co/WSDrAVnYPL via @MKEBizJournal Nice Job! $SCTY $VSLR
Lauren Holmes
30 Oct 14 09:13:43
$FSLR or $SCTY, which one you think is best? Read our analysis here http://t.co/IhJaUAjPfb
WindStream
30 Oct 14 09:11:12
While You Were Getting Worked Up Over Oil Prices, This Just Happened to Solar http://t.co/7GIRizOrSE $WSTI $SPWR $SCTY
WindStream
30 Oct 14 09:05:27
@justindoom confirms why we focus on emerging markets http://t.co/lu67xSSTOw $WSTI $SPWR $SCTY $ASTI $FSLR $SOL $CSIQ $JASO $VSLR
Jeff Siegel
30 Oct 14 08:37:37
5 Investments that are Better than Stocks: http://t.co/c3um0xj9bG #solar #organicfarming $SCTY
Eternity101
30 Oct 14 08:08:03
$TSLA #earnings Wed Nov 5, 2014 AFTER the CLOSE http://t.co/PokT5ILZ8Y $SCTY also Nov 5 AFTER CLOSE http://t.co/3spRY13Can
WindStream
30 Oct 14 08:02:11
$WSTI featured in November's issue of Energy Digital! Thanks @kaydheesmead -> http://t.co/qX6yYPV4yi $SPWR $SCTY $ASTI $FSLR $SOL $CSIQ $TSL
Flux
30 Oct 14 07:54:25
Shorts $P $YELP $GRPO (gpro made 65 pivot, added to yest entry) // Longs $TNA $SCTY $RUBI $UVXY (off the open at 27) mixed bag NIMBLE time
smtrader StockTrader
30 Oct 14 07:44:42
solar stocks resume their downtrend $SCTY $FSLR $SPWR
Hereitfirst
30 Oct 14 07:40:04
http://t.co/Kk2Hn5IlaU $325 profit in $SCTY shoulda gotten a shorter date like Nomeber7. few subs made 80% on those when i only made 20%...
WindStream
30 Oct 14 07:14:33
Check out our latest corporate video: http://t.co/J0KfYKbmfz $WSTI $SPWR $SCTY $ASTI $FSLR $SOL $CSIQ $TSL $JASO $VSLR $SWI #windpower #geen
Jerry Efremides
30 Oct 14 07:00:20
Eryone excited to buy the dip still!?? Easy money, no!!? Step off and take a break. #btd #bullsonparade $SPY $QQQ $P $SCTY $TWTR $FB
Jean Fonteneau
30 Oct 14 06:42:16
Solar names have really been battered this past month with oil, considering to re-add a basket of names here soon $CSIQ $FSLR $SCTY $SPWR
Julian Close
30 Oct 14 06:08:31
Critical Alerts for $GE, $AMED, $RFMD, $JCP and $SCTY from InvestorsObserver today: http://t.co/EHaJHmKHm7 #OptionsTrading #CoveredCalls
Investors Observer
30 Oct 14 06:08:30
Critical Alerts for $GE, $AMED, $RFMD, $JCP and $SCTY from InvestorsObserver today: http://t.co/jrDQWEC2fy #OptionsTrading #CoveredCalls
TV_Trading Ideas
30 Oct 14 05:46:29
Earnings next week may take this back to 70 or under 40 $SCTY http://t.co/MRroUojVE5
FMD Capital
30 Oct 14 05:39:28
RT @Benzinga: Solar ETFs Struggle To Regain Footing $FSLR $KWT $SCTY http://t.co/yblyCkr2fQ @fabiancapital
StockKingz
30 Oct 14 04:52:42
$SCTY Support/resistance $STUDY http://t.co/HI31umyxXg
Quantpost Technology
30 Oct 14 03:46:09
$FSLR $SCTY News: "Solar ETFs Struggle To Regain Footing $FSLR $KWT $SCTY …" http://t.co/zhHlR0HWfL Board view: https://t.co/zX7nZSsHfH
Benzinga.com
30 Oct 14 03:46:08
Solar ETFs Struggle To Regain Footing $FSLR $KWT $SCTY http://t.co/yblyCkr2fQ @fabiancapital
Mike Stanage
30 Oct 14 00:48:31
@BookForex How do you think one could play Elon musk Spacex $TSLA or $SCTY
Matt Cooper
29 Oct 14 22:50:07
$TSLA $SCTY have become long holds as hedge funds look to close out year buying into winning stocks.
Etos Etana
29 Oct 14 22:46:06
RT @IHPosts: leahanne: $SCTY Solarcity Corp (SCTY) 54.61 -0.59 (-1.07%) http://t.co/OtkiDIhXTE
wininstocks2014
29 Oct 14 22:38:41
SCTY 54.36 Stock Charts $SCTY SolarCity Corp. (NASDAQ) Last Updated: 10/30/2014 00:38:48 SCTY Stock Chart - 1 http://t.co/spEleEVbMO
xraystocktrader
29 Oct 14 21:33:55
Bloomberg: While You Were Getting Worked Up Over Oil Prices, This Just Happened to Solar http://t.co/E1dtFNOK7z $SCTY http://t.co/sUBSyZXKAm
Scott Fraser
29 Oct 14 19:04:29
$SCTY I'm a consultant for them. Things are going well for us. Just wish legally I could buy more stock right now lol.
4-traders.com
29 Oct 14 17:15:02
SolarCity : ZS Peak: A Brief History of More Space in Less Time http://t.co/l8t9UtSFvj $SCTY
Tonatiuh Cuazitl
29 Oct 14 11:27:26
RT @ForTraders: SolarCity : New ZS Beam Solar Carport System Makes it Faster, Cheaper, Easier and Safer to Install Solar in... http://t.co/…
US_proptrader
29 Oct 14 11:21:29
$ACHN $ARRY $CLDX $CYBR $FMER $HIMX $IMGN $NM $SCTY autocharts @ http://t.co/hj7PGeTQk3
Trader Gang
29 Oct 14 10:40:27
$TRLA & $SPWR #earnings.. sympathy plays $Z $SCTY
StockNews
29 Oct 14 10:29:08
$SCTY - Midterm Elections: If GOP Wins Senate, These Stocks Will Gain -- Barron's http://t.co/pObcDsThjH
Pzaa...Guy
29 Oct 14 10:29:07
$SCTY - Midterm Elections: If GOP Wins Senate, These Stocks Will Gain -- Barron's http://t.co/GpbSOl39ha
NASDAQ
29 Oct 14 10:28:57
$SCTY - Midterm Elections: If GOP Wins Senate, These Stocks Will Gain -- Barron's http://t.co/Jd69SyrwsI
Solo traders
29 Oct 14 10:28:37
$SCTY - Midterm Elections: If GOP Wins Senate, These Stocks Will Gain -- Barron's http://t.co/5por8A1CQ9
john smith
29 Oct 14 10:28:20
$SCTY - Midterm Elections: If GOP Wins Senate, These Stocks Will Gain -- Barron's http://t.co/Ofp12h4AUe
Investors Hangout
29 Oct 14 10:08:15
leahanne: $SCTY Solarcity Corp (SCTY) 54.61 -0.59 (-1.07%) http://t.co/OtkiDIhXTE
Investors Hangout
29 Oct 14 10:08:14
leahanne: $SCTY Solarcity Corp (SCTY) 54.61 -0.59 (-1.07%) http://t.co/3OPFyauYfR
4-traders.com
29 Oct 14 10:05:10
SolarCity : New ZS Beam Solar Carport System Makes it Faster, Cheaper, Easier and Safer to Install Solar in... http://t.co/dtRjbyWLl2 $SCTY
leahanne
29 Oct 14 10:04:57
$SCTY Solarcity Corp (SCTY) 54.61 -0.59 (-1.07%) $ACHN $TCK $HNU.TO http://t.co/C2zn1K7X47
TV_Trading Ideas
29 Oct 14 09:34:39
Unless we take out A $SCTY http://t.co/1mtVfCcTUV
Investors Hangout
29 Oct 14 09:28:09
DennyT: RGLS Historical Prices $RGLS $GGAL $SCTY $YELP http://t.co/70e0JNdgtK
Investors Hangout
29 Oct 14 09:28:09
DennyT: RGLS Historical Prices $RGLS $GGAL $SCTY $YELP http://t.co/6piBLiDU3w
DennyT
29 Oct 14 09:13:33
RGLS Historical Prices $RGLS $GGAL $SCTY $YELP $CMG Opinion Today,50 Simple Moving Average,Stock,Recent Headli http://t.co/cTdCNagyra
				
				
  +Follow October 16, 2013 11:15AM
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