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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
Warren Puffett
17 Dec 14 11:36:57
Decided to take a loss on $twtr for tax purposes.. Lost a lot lol.. Also $SCTY my stop got hit and… http://t.co/GJeI563HlX
Elodia Casteel
17 Dec 14 11:34:44
Are you thinking of selling $SCTY $DAL $GLW $GRPN #singedinvestor http://t.co/T0yalexhOd
US_proptrader
17 Dec 14 11:31:44
$ACHN $ANV $CALA $CVEO $GOL $HIMX $NPSP $NQ $SCTY autocharts @ http://t.co/rTnYb8yj59
Jared
17 Dec 14 11:31:29
@RiskReversal Hope you bought $FEYE and $SCTY. Might have bottomed this morning.
Scott Spencer
17 Dec 14 11:30:41
@washingtonpost However, the exceptional @elonmusk is committed to bucking the trend $TSLA $SCTY LONG
Cheyenne Ingalls
17 Dec 14 11:19:11
It could be breaktout time on $SCTY $FTI $APH $CLF #personalfinance http://t.co/54vRezs09X
Zachery Abel
17 Dec 14 11:19:08
Todays movers to research $SCTY $MAN $FULT $CAG #financialnews http://t.co/FKfiwGwMfF
Randell Sotelo
17 Dec 14 11:14:43
Whats going on with $MO $CBSH $SCTY $GRPN Goto http://t.co/ufdo3Cm00P
Option Millionaires
17 Dec 14 11:09:04
Something in the statement must have triggered short squeeze bots on high short names ~ $YELP $SCTY
DailyStockPicks
17 Dec 14 10:59:30
$ECIG buyout target of $0.50. 400% upside. Positive EBITDA and $200MM revenue in 2015 $EA $SCTY $NRO traders read: http://t.co/xi3978GuDs
Cinthia Batson
17 Dec 14 10:52:52
$SYY Seeking the next stock like $SCTY $PC $GAIN #NSE http://t.co/YZQINgFkwK
Carolina Keeling
17 Dec 14 10:44:44
Are you hanging on to $SCTY $ROST $STJ $TUR #wallstreet http://t.co/AP4B2mviUZ
David Jackson
17 Dec 14 10:44:43
U.S. to impose tariffs on solar equipment fr... $FSLR $SPWR $SUNE $SCTY $CSIQ $SOL $YGE $DQ $ENPH $TSL $JASO http://t.co/cJhIKuRKXX
Lin/林莹君
17 Dec 14 10:33:31
$FSLR $CSIQ $SCTY nice bargain..But
Flux
17 Dec 14 10:26:30
$SCTY in a falling wedge 60 min - primed to snap upwards / avg. long at 49.2
Kristin
17 Dec 14 10:00:49
Santa already paid visit to Energy $XLE $EMES $FANG $XEC,now viist solaras & casino $CSIQ $JKS $SCTY $WYNN $LVS
Maleah
17 Dec 14 09:52:32
Tip #4 How to identify a HOT SECTOR? http://t.co/jnfUIrz2zo $HIMX $SCTY $HAL $UUP $CRUS $ESRX
Mike M.
17 Dec 14 09:44:30
Holding calls in $TSLA $SCTY $OAS $TWTR $LOCO. Staying away from the sketchy pennies.
WindStream
17 Dec 14 09:42:17
$WSTI Everyone should read this article on the micro wind space: http://t.co/HII3Q9GEda $SPWR $SCTY $ASTI $FSLR $SOL $CSIQ $TSL $JASO $VSLR
Nedra Barkley
17 Dec 14 09:25:45
Latest information on #stocks like $R $ITC $SCTY $SLW Must see http://t.co/xRvJ35ekIN
Juan Macias
17 Dec 14 09:24:09
@StockTwits $SCTY hit with solar panel tariff news, dropped but on mends back to 50, a good buy. http://t.co/qsxx6lNoHD
Brian Lum
17 Dec 14 09:23:15
U.S. to impose tariffs on solar equipment from China, Taiwan http://t.co/KAuFlcO4Sa $FSLR $SPWR $SUNE $SCTY
Neoma Tam
17 Dec 14 08:59:34
$SCCO Best research on #stocks such s $SCTY $FTI $RT Goto http://t.co/khwETF6EkK
PennyStock Zone
17 Dec 14 08:58:42
Tip #4 How to identify a HOT SECTOR? http://t.co/cFuOlMXLZp $HIMX $SCTY $HAL $UUP $CRUS $ESRX
Danny
17 Dec 14 08:52:08
$SCTY Obviously down trend!
Necole Harter
17 Dec 14 08:50:12
Dont want to lose like you did with $SCTY $DHR $CLI $IR #NSE http://t.co/Z0i6dMOBwg
Sheba Li
17 Dec 14 08:48:31
$ATVI Are you looking to buy $SCTY $LII $GLD #economy http://t.co/ARw0YSvvgV
Buy Sell Hold
17 Dec 14 08:48:10
Initiated a bull call spread on $scty this morning using the July 45/55 strikes. Glad to see it back above $50 now
Jared
17 Dec 14 08:46:58
@petenajarian I think $GM, $FEYE, $SCTY and $TWTR are going to have a big year in 2015.
Dot Doe
17 Dec 14 08:38:47
$DOW Get the latest on $SCTY $TYC $CSIQ #moneymanagement http://t.co/jDX4zfYB1y
Jared
17 Dec 14 08:37:59
@jimcramer My top picks for 2015...$FEYE, $TWTR, $SCTY, $GM, $HTZ, $MCD.
Jared
17 Dec 14 08:34:24
@BKBrianKelly flush this morning in $SCTY. Now seeing buying coming in on good vol.
Jared
17 Dec 14 08:33:36
@GuyAdami flush this morning in $SCTY. Buying now.
Jared
17 Dec 14 08:23:42
@RiskReversal Buying $SCTY.
Kristin
17 Dec 14 08:22:32
Commented on StockTwits: I see $TSLA 200C now,$5, haha,I sold @ 3.3,$CSIQ $JKS $SCTY looks bottomed, http://t.co/tPBzlRaL2t
Jared
17 Dec 14 08:04:17
@cvpayne Going to add to $FEYE, $SCTY and $TWTR. Recent weakness = opportunity.
Suzi Harter
17 Dec 14 07:59:40
Whats going on with $TEG $SCTY $ADM $PCLN #newsletter http://t.co/tFOra7CMUm
Glenn Williams
17 Dec 14 07:58:20
CNN Money: "Tesla sales forecast cut by 40%" http://t.co/B7sQsgI4Gh via @CNNMoney $TSLA $SCTY
Scott Spencer
17 Dec 14 07:48:01
RT @WarrenPuffett9: $SCTY Unbelievable amount of buying at 50$ were going to rocket soon! Yesterday the big buying was at 49.75
Scott Spencer
17 Dec 14 07:47:18
RT @MarkMcCisco: $SCTY another bad day for Elon Musk solar aspirations. Very bearish chart patterns.
Neal Vasilak
17 Dec 14 07:34:32
Solar selling off with oil makes a lot of sense since petroleum provides a whopping 1% of U.S. electricity. $scty $fslr $spwr #sarcasm
Perfor Mance
17 Dec 14 07:31:35
Option Millionaires: jimmybob: $SCTY 48.01 what a turd today http://t.co/ReFtR2Kfn9
Scott Smith
17 Dec 14 07:23:44
Beware of weak stocks $SCTY $RWLK $JASO $CSIQ $VEEV when action on so many other stocks is strong. Setups I DO like http://t.co/YlonVw73Ny
Mark McCabe
17 Dec 14 07:15:55
$SCTY another bad day for Elon Musk solar aspirations. Very bearish chart patterns.
Janeth Linton
17 Dec 14 07:14:44
#Stock Market Reports on stocks like $SCTY $WDR $ESRX $RT #overvalued http://t.co/2rSNcyZcE1
  The  TURK
17 Dec 14 07:12:22
RT @OptionsTrader31: Solars breaking down, notably $CSIQ $SCTY
Tom napier
17 Dec 14 07:11:46
$SCTY. 😂😂😂😂 46
Warren Neill
17 Dec 14 07:10:57
Will be interesting to see if $SCTY continues its macro downtrend now. Still not a lot of power to the move.
OptionsTrader31
17 Dec 14 07:10:19
Solars breaking down, notably $CSIQ $SCTY
Kimberlee Kerns
17 Dec 14 07:07:51
Is it breakout time on $SCTY $AVGO $HES $S Worth a look http://t.co/lK4RmSvixR
				
				
  +Follow October 16, 2013 11:15AM
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