By Herb Greenberg
SolarCity, with its shares up more than 50 percent in a little more than a week, may go down as the poster child of the sizzling market for this round of nuttiness for solar stocks.
Yet, as Raymond James analyst Pavel Molchanov is quick to point out, the market gains are after mixed first quarter results and second quarter guidance “that was definitely on the soft side, leading us to cut estimates for the second time this year.”
Oh, and by the way, in less than 20 days, 60 million SolarCity shares, restricted since the company’s IPO six months ago, will get unlocked, Molchanov said. If the stock continues the way it has been, he added, “this thing can go off the rails.”
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