How High Can Tesla (NASDAQ:TSLA), SolarCity (NASDAQ:SCTY) Go?
Written By Jeff Siegel
Posted July 9, 2013
First Energy Corp (NYSE:FE) has announced that it plans to deactivate two coal-fired power plants in Pennsylvania by the end of the year. The reason? FE claims its weak power prices and the high cost of complying with stricter environmental rules. But let’s face it, the primary culprit is dirt cheap natural gas, and this is unlikely to change anytime soon. The two coal-fired power plants that are about to be put out to pasture represent about ten percent of the company’s total generating capacity. Interestingly, FE doesn’t look like a bad deal right now. I like it below $36.00, particularly with that 6% dividend.
It looks like shorts might be getting squeezed again today on SolarCity (NASDAQ:SCTY). The stock is up a little more than one percent this morning, touching $41.50. If it crosses $42, we’ll likely see a run up to around $46. Full disclosure: I currently own shares of SCTY.
Tesla (NASDAQ:TSLA) crossed $120 for the first time this week. In pre-market, it’s now trading above $125. Will it keep heading north? We’ll soon find out. In the meantime, click here to check out Tesla’s next big move.
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