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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
Lael Nation
25 Nov 14 14:32:20
Great #Stock Newsletter you must have $CIT $JOE $SCTY $DO Must have http://t.co/gwBqCZHCRs
4-traders.com
25 Nov 14 14:05:12
SolarCity : & NREL Team Up In Hawaii http://t.co/Lr1P5bDIv7 $SCTY
Cutlass
25 Nov 14 14:03:23
RT @Taarriqq: $CRM calls up 120% for overnight holders, $SCTY $tsn calls, $wdc short paid us nicely, $hot got stopped out!
CRM Hourly News
25 Nov 14 13:36:37
RT @Taarriqq: $CRM calls up 120% for overnight holders, $SCTY $tsn calls, $wdc short paid us nicely, $hot got stopped out!
OPTIONS/STOCK EXPERT
25 Nov 14 13:36:33
$CRM calls up 120% for overnight holders, $SCTY $tsn calls, $wdc short paid us nicely, $hot got stopped out!
Sanora Shoemaker
25 Nov 14 13:05:00
Awesome #Stock #Research on $CIT $ADT $SCTY $RT #financialnews http://t.co/5g1EcJK1ET
John Ablemann
25 Nov 14 13:02:16
$SCTY SolarCity Corp Jumps On Baird Upgrade http://t.co/Ddxg1r4P5S
Suzy Runyon
25 Nov 14 13:01:33
Whats going on with $PCLN $SCCO $SCTY $GRPN #equity http://t.co/LHOUC04Jmt
Trade Artist
25 Nov 14 12:27:02
@36Cheap I was wondering same thing about $SCTY then bought more lol
Michelle Emery
25 Nov 14 12:26:09
Whats going on with $SCTY $PDM $ATK $SLW #money http://t.co/sPo8T3gUdI
Edel Gonzalez
25 Nov 14 11:38:22
$SCTY Tomorrow will go down for another entry point. It's a roller coaster with great value long term
Julissa Cato
25 Nov 14 11:19:14
Great #Stock Newsletter you must have $SCTY $PGR $XEC $QLYS Visit http://t.co/7W2fRK5CJv
Investors Hangout
25 Nov 14 11:11:43
leahanne: Volume Alert - SCTY 56.82 Solarcity Corp $SCTY http://t.co/ZMvVJVE228
Investors Hangout
25 Nov 14 11:11:43
leahanne: Volume Alert - SCTY 56.82 Solarcity Corp $SCTY http://t.co/FADlYA81nD
leahanne
25 Nov 14 11:07:05
Volume Alert - SCTY 56.82 Solarcity Corp $SCTY Hit a high today of 57.29 Closing the day 10:30 at 56.82 +0.47 http://t.co/aOpXyDNdDM
leahanne
25 Nov 14 11:06:43
$SCTY Volume Alert - SCTY Stock 56.82 Solarcity Corp $SCTY Hit a high today of 57.29 Closing the day 10:30 at 56.82 http://t.co/1k4Sp7keDs
strader55
25 Nov 14 11:05:33
morphnad: $SCTY getting ready to launch - morphnad http://t.co/O7XZwn0U7S
4-traders.com
25 Nov 14 11:05:10
SolarCity : NREL, SolarCity to research distributed solar generation on power grids http://t.co/HDODNpRW0L $SCTY
Peter Bardens
25 Nov 14 11:00:55
$SCTY SolarCity Corp Jumps On Baird Upgrade http://t.co/uRd7wqdQnU
Tech Alerts
25 Nov 14 11:00:04
Vivint Solar: What To Do Now? http://t.co/QhFUYGznPI $SCTY $VSLR
danrocks
25 Nov 14 10:50:11
$MG.TO Showing on my streamers $SCTY $DND.TO $BABA $BROTX $ACHN http://t.co/TCQFuZtvNk
okosa
25 Nov 14 10:48:15
RT @YahooFinance: Shedding Light On Solar Yieldcos http://t.co/jZnYhV1zfb via @RiskReversal $SCTY $SUNE http://t.co/7wjqOXSdis
Alphonso Hyatt
25 Nov 14 10:48:07
$PPS Do you think you should hold $SCTY $STI $LIVE I suggest http://t.co/6nlwFAHh8s
Shan Shan Xie
25 Nov 14 10:44:57
$scty is getting interesting here...
Perfor Mance
25 Nov 14 10:41:34
Option Millionaires: morphnad: $SCTY getting ready to launch http://t.co/oIl2PNWDep
US_proptrader
25 Nov 14 10:34:22
$APT $NMM $PPP $SCTY $WAIR autocharts @ http://t.co/rTnYb8yj59
OPTIONS/STOCK EXPERT
25 Nov 14 10:33:02
$SCTY boom, on fire #solar $$
Kansas City Traders
25 Nov 14 10:28:39
Solars slowly creeping up here $FSLR $SCTY
moderneconomist.com
25 Nov 14 10:21:53
RT @szaman: $SCTY nice intrady look.
NYC Trader
25 Nov 14 10:18:11
$SCTY nice intrady look.
NewsTalk
25 Nov 14 10:18:00
RT @StockSignaling: Visual Stock Comparison Tool: http://t.co/S9oPUZ8PN3 : $QIHU $OUTR $SCTY $JKS $JASO $SUNE $SLXP $DDD $P $BITA $AREX $CS…
Jared
25 Nov 14 10:15:30
@optionmonster Looks like a big buyer of the Apr 70 calls in $SCTY.
Jared
25 Nov 14 10:15:12
@RiskReversal @Michael_Khouw @ScottNations Looks like a big buyer of the Apr 70 strike calls in $SCTY.
DennyT
25 Nov 14 09:59:47
CVX Financials $CVX $CDTI $SLW.TO $SCTY $EPI Opinion Today,Candlesticks,Volume,Recent News,Hit my list a few d http://t.co/NB1lncGgWq
JB FOLLOW ME ∆
25 Nov 14 09:55:28
RT @MelissaLeeCNBC: $SCTY Day 2 of gains on Baird upgrade +1.3%. Here's Ben Kallo on @cnbcfastmoney- sees SCTY the leader post-ITC http:/…
Katheleen Ventura
25 Nov 14 09:52:00
Are you thinking of Investing in $SYY $SCTY $PANW $RAX View now http://t.co/3xzFVt6CR3
 Amos
25 Nov 14 09:47:04
Are you hanging on to $TSCO $SCTY $STI $SSO I suggest http://t.co/Fon50t19I7
Greg Harmon, CMT
25 Nov 14 09:45:54
$SCTY just pounding against 57.30 today
Wilburn Miller
25 Nov 14 09:39:07
This weeks Stocks you should Watch $BRO $HP $SCTY $GAIN #moneymanagement http://t.co/kdlnSgtjTX
Harris Hamblin
25 Nov 14 09:37:46
Get research on $SCTY $MAN $TSO $GAIN #financial http://t.co/duRuH54mTU
US_proptrader
25 Nov 14 09:36:26
$APT $CANF $CCL $FOLD $IAG $SCTY $SYN autocharts @ http://t.co/rTnYb8yj59
Josiah Lopes
25 Nov 14 09:36:09
Looking for the next winners like $RF $MYL $SCTY $GOOG #moneymanagement http://t.co/KeTHeGuOeh
danrocks
25 Nov 14 09:33:43
$SCTY On Radar $MUX $MU $XLU $G.TO $SVXY http://t.co/pvMspKYeBk
Stock Signaling
25 Nov 14 09:31:03
Visual Stock Comparison Tool: http://t.co/S9oPUZ8PN3 : $QIHU $OUTR $SCTY $JKS $JASO $SUNE $SLXP $DDD $P $BITA $AREX $CSIQ $OREX $AMBA $ACHN
DennyT
25 Nov 14 09:15:10
^ESZ14 Company Info $^ESZ14 $XLY $GS $SCTY $G.TO Buy or Sell?,Stock Chart,Open,News,Is this one to watch? Stoc http://t.co/Ygz0gD9nvN
Cutlass
25 Nov 14 09:12:02
RT @Taarriqq: $SCTY nHOD boom, our new scanners are giving explosive results! #institutionals
Aliph
25 Nov 14 09:06:21
What happened to all the $SCTY bears.. Oouch did that hurt guys ?
Jago Bowens
25 Nov 14 09:05:24
$ROVI Are you thinking of selling $SCTY $CA $DF Must have http://t.co/FIoiCsLvWg
danrocks
25 Nov 14 09:03:58
$ULTA alot of talk going around about this one $SCTY $WMT $PCLN $P $UUP http://t.co/r3mXq8SPyK
Judie Olivas
25 Nov 14 09:02:42
Great #Stock Newsletter on $SCTY $FITB $M $USD #liquidity http://t.co/E9sc997QxP
				
				
  +Follow October 16, 2013 11:15AM
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