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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
Raffi Sosikian
2 Sep 14 09:36:43
RT @beckyhiu: Initiated first short in awhile. $SCTY - short call spreads/long put spreads
 Trader
2 Sep 14 09:31:38
$SCTY I think 65.5 - 66 is on the cards
lookn4wins
2 Sep 14 09:26:19
$WPCS TA $WPCS Most recent stock chart and technical analysis. $TZA $TWTR $FLST $MYEC $CSIQ $SCTY http://stock http://t.co/eHgIeUgsPU
 Trader
2 Sep 14 09:25:21
$SCTY Short 67.45 ...
Wu Weed
2 Sep 14 09:18:05
$SCTY @solarcity dip
Future Tech Investor
2 Sep 14 09:07:04
$NVAX breakin out $ITMN $FB $JD $MU $TLM $SSYS $JRJC $TSLA $SPWR $FSLR $CMG $F $SCTY $GTAT $HIMX $DGLY $AAPL $JPM $CPWR $NRG $CSCO $INTC $BA
TLT
2 Sep 14 09:04:10
Sold $SCTY and $BITA puts this morning for decent gains. Will probably look to reenter $BITA at some point.
Becky Hiu
2 Sep 14 09:03:39
Initiated first short in awhile. $SCTY - short call spreads/long put spreads
Samantha Lee
2 Sep 14 08:59:09
yup "@BeckyHiu: $SCTY's a shortie. http://t.co/Hw1wFuUxgw"
lookn4wins
2 Sep 14 08:55:54
$GTAT Candlesticks $GTAT Most recent stock chart and technical analysis. $XLV $SCTY $TRUE $MU $GLUU $INTC http http://t.co/30AJq2NxP5
URLU.ME
2 Sep 14 08:53:50
RT @SeekingAlpha: Is SolarCity The Quintessential Bubble Stock With Negative Catalysts To Boot? http://t.co/e8togog6Xc $SCTY
iHangout
2 Sep 14 08:52:55
http://t.co/Vv1sYDyeQn danrocks: Xtremepicks Alerts: $SCTY On Watch $PANW $GS $TRUE $AMZN $XLY http://t.co/3gLcHlVMHZ
Becky Hiu
2 Sep 14 08:51:40
$SCTY's a shortie. http://t.co/6zQfM4rtpF
lookn4wins
2 Sep 14 08:50:07
$CAT Volume $CAT Most recent stock chart and technical analysis. $XLI $XLI $MYEC $SCTY $IYR $AVGO http://stock http://t.co/vibRjQAQiw
Investors Hangout
2 Sep 14 08:49:45
danrocks: $SCTY On Watch $PANW $GS $TRUE $AMZN $XLY http://t.co/pUx8ULBttI
Investors Hangout
2 Sep 14 08:49:45
danrocks: $SCTY On Watch $PANW $GS $TRUE $AMZN $XLY http://t.co/6YnvRa1tao
Greg Harmon, CMT
2 Sep 14 08:45:35
"@harmongreg: used some of options credit in $SCTY to buy a Sep 12 67/65 PS"
Biz News Pioneer
2 Sep 14 08:45:23
$SCTY: SolarCity Corp Given Consensus Rating of "Buy" by Brokerages (NASDAQ:SCTY) http://t.co/oG1Shvof0q http://t.co/KUwYzejdP8
danrocks
2 Sep 14 08:45:11
$SCTY On Watch $PANW $GS $TRUE $AMZN $XLY http://t.co/GuIlyI5Gxo
IVolatility
2 Sep 14 08:32:24
RT Options Scanner shows SolarCity $SCTY January 82.5 call option implied volatility increased 6% to 52
Anacott Steel
2 Sep 14 08:17:52
Not the type of pick up in volume the bulls wanted to see in Solar City after last week's sleep fest and the loss of $70. $SCTY
Stock_Tracker
2 Sep 14 08:03:58
$SCTY Company News Policy shortcomings could hurt renewable energy growth: IEA 2:48 p.m. Aug. 28, 2014 - Claud http://t.co/20niPo72S3
Raffi Sosikian
2 Sep 14 08:03:24
RT @BenCBanks: $SCTY : Breaking down today, highlighted a swing short set up in this name last week here: http://t.co/NECNoPqguP
Supruna Man
2 Sep 14 07:55:02
@harmongreg $SCTY Sep 70s short or long? Thx!
Samantha Lee
2 Sep 14 07:53:44
Good call $63"@BenCBanks: $SCTY : Breaking down today, highlighted a swing short set up in this name last week here: http://t.co/YDEaKhrIsd"
Samantha Lee
2 Sep 14 07:51:00
I've been saying exactly that for weeks. "@bingotrader: $SCTY Ding ding ding we got a winner. Cut your losses longs"
Bulls vs Bears
2 Sep 14 07:45:20
$SCTY: SolarCity, SunEdison, First Solar Are Sky-High But That Could End Tomorrow http://t.co/GUEx5zXMQ1 http://t.co/BqRsSVxosQ
Cousin_Vinny
2 Sep 14 07:43:41
$SCTY reverse Kirby here http://t.co/Vt2cWVgLdK loss of this trend - well you get the idea. STO OS http://t.co/UXWogHb1DD
Ben C. Banks
2 Sep 14 07:43:37
$SCTY : Breaking down today, highlighted a swing short set up in this name last week here: http://t.co/NECNoPqguP
Justin Pulitzer
2 Sep 14 07:43:26
“@GeorgeManiereg: @JustinPulitzer Already covered 1/3 of my $SCTY short. and $YELP long. Is that a paradox?”<~no, $YELP has a GOOD chart.
Raffi Sosikian
2 Sep 14 07:43:10
$SCTY "Is SolarCity The Quintessential Bubble Stock With Negative Catalysts To Boot?" http://t.co/dJOrqjaDvE
Greg Harmon, CMT
2 Sep 14 07:42:16
rolled $SCTY Sep 75 Calls down to Sep 70 for $1.05 credit
George Maniere
2 Sep 14 07:42:09
@JustinPulitzer Already covered 1/3 of my $SCTY short. and $YELP long. Is that a paradox?
HotmESQ
2 Sep 14 07:39:38
Couple $SCTY calls for fun.
TrendTrader4u
2 Sep 14 07:38:27
$SCTY put alert around 66.34 area and don't look at it.
TLT
2 Sep 14 07:32:12
RT @SeekingAlpha: Is SolarCity The Quintessential Bubble Stock With Negative Catalysts To Boot? http://t.co/e8togog6Xc $SCTY
George Maniere
2 Sep 14 07:31:34
RT @JustinPulitzer: @georgemaniereg No Goerge, you're one of the god buys… careful w/ that $SCTY short though. LOL! Tight stops!
Thomas Collins
2 Sep 14 07:31:06
$SCTY SolarCity Corp (SCTY) Sees Leverage In Expenses http://t.co/ZPbM3VOvpP
Samantha Lee
2 Sep 14 07:30:12
RT @SeekingAlpha: Is SolarCity The Quintessential Bubble Stock With Negative Catalysts To Boot? http://t.co/e8togog6Xc $SCTY
Justin Pulitzer
2 Sep 14 07:29:33
@georgemaniereg No Goerge, you're one of the god buys… careful w/ that $SCTY short though.
George Maniere
2 Sep 14 07:28:37
@JustinPulitzer Rut Row. I shorted $SCTY in PM at 69.23. I'm not a clown am I?
Jolene
2 Sep 14 07:28:05
RT @SeekingAlpha: Is SolarCity The Quintessential Bubble Stock With Negative Catalysts To Boot? http://t.co/e8togog6Xc $SCTY
lookn4wins
2 Sep 14 07:27:50
$CODI Current Price $CODI Most recent stock chart and technical analysis. $SSRI $ATHM $SYN $SCTY $GMCR $TWTR h http://t.co/vie9qOaYLv
URLU.ME
2 Sep 14 07:25:28
$SCTY "Is SolarCity The Quintessential Bubble Stock With Negative Catalysts To Boot?" http://t.co/IxaOG9Mdk1
Justin Pulitzer
2 Sep 14 07:23:48
$SCTY green… keep an eye on her. Same clowns that are short $TSLA & piled in there too.
Seeking Alpha
2 Sep 14 07:21:03
Is SolarCity The Quintessential Bubble Stock With Negative Catalysts To Boot? http://t.co/e8togog6Xc $SCTY
Jolene
2 Sep 14 06:57:37
RT @AsianOptionGirl: Yup "@BPGAG: @AsianOptionsGirl indeed, as each trading day goes by, a flush feels more inevitable $SCTY"
Justin Pulitzer
2 Sep 14 06:54:50
$TSLA Shorts got #Musked once again. $SCTY shorts may be next. Keep an eye on her, these 2 like to move in tandem.
URLU.ME
2 Sep 14 06:50:09
RT @AsianOptionGirl: Yup "@BPGAG: @AsianOptionsGirl indeed, as each trading day goes by, a flush feels more inevitable $SCTY"
Samantha Lee
2 Sep 14 06:49:38
Yup "@BPGAG: @AsianOptionsGirl indeed, as each trading day goes by, a flush feels more inevitable $SCTY"
				
				
  +Follow October 16, 2013 11:15AM
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