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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
ur-trading
29 Aug 14 12:56:46
Cerrar Corto $SCTY @68.70 (+1.8%) http://t.co/czFExgUTd3
Fiberton
29 Aug 14 12:52:32
RT @smtraderCA: have a great labor day weekend everyone! $SPX $AAPL $FB $TWTR $SCTY
Raffi Sosikian
29 Aug 14 12:51:34
RT @BenCBanks: $SCTY still relatively weak, wouldn't be surprised to see a pull-in to the 66.50ish level.
smtrader StockTrader
29 Aug 14 12:50:16
have a great labor day weekend everyone! $SPX $AAPL $FB $TWTR $SCTY
Samantha Lee
29 Aug 14 12:47:42
"@BenCBanks: $SCTY still relatively weak, wouldn't be surprised to see a pull-in to the 66.50ish level."
Ben C. Banks
29 Aug 14 12:47:06
$SCTY still relatively weak, wouldn't be surprised to see a pull-in to the 66.50ish level.
Bulls vs Bears
29 Aug 14 12:45:24
$SCTY: SolarCity, SunEdison, First Solar Are Sky-High But That Could End Tomorrow http://t.co/GUEx5zXMQ1 http://t.co/D2hhIDrGtc
TLT
29 Aug 14 12:39:04
If $SCTY closes below 68.50, look for gap down on Tuesday.
TLT
29 Aug 14 12:37:29
RT @AsianOptionGirl: $SCTY uh oh
Samantha Lee
29 Aug 14 12:36:55
$SCTY uh oh
Daily Contracts
29 Aug 14 12:27:01
Real-Time feed of company contracts, original agreements and executive updates from SolarCity $SCTY http://t.co/4DLVQtbdTO
Anacott Steel
29 Aug 14 12:21:10
The way many issues are trading, feels like a flush is coming next week. Complacency wreaks. $BIDU $QIHU $VIPS $FSLR $SCTY $GILD #trading
DC
29 Aug 14 12:12:44
These tech stocks are looking #bubbly $VIPS $TSLA $SCTY $XONE $VJET $ONVO #ANYIPO $QQQ $IWM $SPY $VXX Would not be surprised to see 20% drop
URLU.ME
29 Aug 14 11:54:46
RT @BiotechMoney18: $SCTY nice flushed, took out my stopped on this one for loss. Will try again next week.
Samantha Lee
29 Aug 14 11:50:18
RT @BiotechMoney18: $SCTY nice flushed, took out my stopped on this one for loss. Will try again next week.
Samantha Lee
29 Aug 14 11:47:33
$SCTY running up against resistance at $68.50 yesterday and today. If it breaks, watch out. Going into a 3-day wknd with geopolitical unrest
Business News
29 Aug 14 11:45:20
$SCTY: SolarCity Corp (SCTY): Secondary Offering Likely By Year End http://t.co/PLxt84QV4W http://t.co/eSeE8OXUgH
$$$ Money $$$
29 Aug 14 11:29:20
$SCTY nice flushed, took out my stopped on this one for loss. Will try again next week.
T3 Trading Group
29 Aug 14 11:17:47
RT @AdamNadler1: Weak stocks in this market that I will be looking to short next week when I return $wynn $lvs $kors $scty
Adam Nadler
29 Aug 14 11:17:28
Weak stocks in this market that I will be looking to short next week when I return $wynn $lvs $kors $scty
Joe Hentges
29 Aug 14 11:14:41
New video analysis update on $VLO $WFM $SCTY $TSLA http://t.co/3z1KuvW5rc #stocks #stockmarket #Solar #Tesla
Samantha Lee
29 Aug 14 10:41:54
$SCTY KNDI lost 8% b/c co diluted $25MM in shares. Imagine what happens when SCTY dilutes $450MM to $1.5B to pay for Silevo build out.
Raffi Sosikian
29 Aug 14 10:04:56
RT @BPGAG: Intraday relative weakness in Solar Ciry continues - someone will not take their foot off its throat - usually means flush is co…
Tina bedell
29 Aug 14 10:02:20
RT @MarahallP: $SWET another article written today!!! $FSLR $SCTY $TAN #alternativeenergy #gogreen #jobs #jobcreation #innovative http://t…
Timmy! Boutillier
29 Aug 14 09:48:08
$SCTY She's like a wounded animal ready to be put down
TLT
29 Aug 14 09:46:08
$SCTY starting to slip here. If it loses yesterday's low, could get ugly. Nasty monthly candle here. Looking down.
Biz News Pioneer
29 Aug 14 09:45:21
$SCTY: SolarCity Corp (SCTY) Sees Leverage In Expenses http://t.co/5U3wFgdLty http://t.co/t6QpBRDIZR
Chet Stedman
29 Aug 14 09:44:02
$SCTY ruh roh..gonna go red
Investors Hangout
29 Aug 14 09:18:51
DennyT: TASR Recent News $TASR $VALE $GILD $SSYS $SCTY http://t.co/Jojxf9pyda
Investors Hangout
29 Aug 14 09:18:48
DennyT: TASR Recent News $TASR $VALE $GILD $SSYS $SCTY http://t.co/HREPjfo2bK
Anacott Steel
29 Aug 14 08:49:36
Intraday relative weakness in Solar Ciry continues - someone will not take their foot off its throat - usually means flush is coming. $SCTY
Investors Hangout
29 Aug 14 08:46:53
Jake13: $SCTY Opinion Today Click here to find out if http://t.co/1HjHpxc9fX
Investors Hangout
29 Aug 14 08:46:50
Jake13: $SCTY Opinion Today Click here to find out if http://t.co/mBc0XP8epY
Financial News
29 Aug 14 08:45:25
$SCTY: SolarCity Corp Given Consensus Rating of "Buy" by Brokerages (NASDAQ:SCTY) http://t.co/dAYD2VGfkf http://t.co/RDJSkjfJ1o
Extreme Stocks
29 Aug 14 08:39:30
Jake13: $SCTY Opinion Today Click here to find out if http://t.co/KxcaHYFYJJ
Jake13
29 Aug 14 08:36:56
$SCTY Opinion Today Click here to find out if $SCTY is a buy hold or sell. Watching these stocks. $DUST $OTIV http://t.co/Y2ei1GHDli
Investors Hangout
29 Aug 14 08:15:47
DennyT: MNK Recent News $MNK $HCLP $ARWR $TNA $SCTY http://t.co/VUvUQelJHQ
Investors Hangout
29 Aug 14 08:15:47
DennyT: MNK Recent News $MNK $HCLP $ARWR $TNA $SCTY http://t.co/mJq3CWubCl
Kristin
29 Aug 14 08:14:41
$SCTY beauty tight flag on 60min, looks to run higher.$SPY not dying anytime soon,EU hedgfunds just dumped their EU pos & BTD US stocks ;)
Investors Hangout
29 Aug 14 08:12:40
danrocks: $WDAY any other opinions on this? $SCTY $XXII http://t.co/fAj9D1wfSq
Investors Hangout
29 Aug 14 08:12:40
danrocks: $WDAY any other opinions on this? $SCTY $XXII http://t.co/TjhzgImLaU
richard
29 Aug 14 08:12:06
RT @BiotechMoney18: $SCTY bought at 69.18. This is ready to ramp up next wk after holiday. GL
✖️Dabachelor✖️〽️
29 Aug 14 08:04:23
RT @BiotechMoney18: $SCTY bought at 69.18. This is ready to ramp up next wk after holiday. GL
$$$ Money $$$
29 Aug 14 08:03:40
$SCTY bought at 69.18. This is ready to ramp up next wk after holiday. GL
Trader Gang
29 Aug 14 07:58:41
“@MandyCNBC: $TSLA trading at all-time high. From IPO in 2010, $TSLA is up 1480% as per @GiovannyMoreano”@elonmusk $SCTY #TeslaMotors #tesla
iHangout
29 Aug 14 07:51:19
http://t.co/Vv1sYDyeQn danrocks: Xtremepicks Alerts: $WDAY any other opinions on this? $SCTY $XXII http://t.co/cdbcDVSu9T
danrocks
29 Aug 14 07:47:16
$WDAY any other opinions on this? $SCTY $XXII $SPLK $NUGT $NFLX http://t.co/sx4iXYk1Zt
Stocks in News
29 Aug 14 07:45:23
$SCTY: SolarCity Corp (SCTY): Secondary Offering Likely By Year End http://t.co/B1lct7C07V http://t.co/LjDZIvmzYC
OTPicks.com
29 Aug 14 07:44:34
http://t.co/hjgLwIcNgz danrocks: $BX On Watch $SPLK $IWM $AVGO $SCTY $TCEL: danrocks http://t.co/cuZAfweuDg http://t.co/hjgLwIcNgz
Investors Hangout
29 Aug 14 07:44:13
DennyT: SCTY Interactive Chart $SCTY $TCEL $CDZI $SCTY http://t.co/JaNwKfCzJ5
				
				
  +Follow October 16, 2013 11:15AM
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