STP Suntech Power (solar) Bankrupt

About that Solar Power…

One of the larger players, in China no less, so loads of low cost labor, declared bankruptcy:

STP 5yr Weekly bankruptcy 20Mar2013

STP 5yr Weekly bankruptcy 20Mar2013

Not much to say, really. First Solar got a bit of boost on the expectation of less competition. Mostly, though, it just says that those solar makers, even in China, do not have a very strong lock on profits…

Down almost 9% today alone. Now trading at 58 cents / share.

Live one year chart:

STP live 1 year daily chart

STP live 1 year daily chart

Don’t expect to see that chart for long. Shortly after bankruptcy, the “ticker” changes or just ends.

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About E.M.Smith

A technical managerial sort interested in things from Stonehenge to computer science. My present "hot buttons' are the mythology of Climate Change and ancient metrology; but things change...
This entry was posted in Economics - Trading - and Money, Energy and tagged , , , . Bookmark the permalink.

10 Responses to STP Suntech Power (solar) Bankrupt

  1. omanuel says:

    That is great news E.M. Smith, if no public funds were invested.

  2. John Robertson says:

    With no reasonable expectations of tax subsidies to mine, the market is done for another 30 years.

  3. sandy mcclintock says:

    wow!
    12 months ago …
    “Suntech Power Ltd, Chinese solar energy giant and the world’s biggest producer of crystalline silicon solar panels, has received the Murphy&Spitz Global Leader Award for 2011, for achieving excellence in environmental and sustainability standards in the photovoltaics industry.”
    more … http://www.energymatters.com.au/index.php?main_page=news_article&article_id=1374

  4. adrianvance says:

    Gee, you just can’t beat physics! When Rahm Emmual told GM engineers they would have to design a car to make 54 mpg by 2016 they laughed and told him he was violating the laws of physics. He went into a shaking rage, stamping his feet saying, “We write the laws!” and stormed from the room. When GM goes bankrupt this time no one will save them.

    See The Two Minute Conservative at: http://tinyurl.com/7jgh7wv and when you speak ladies will swoon and liberal gentlemen will weep.

  5. E.M.Smith says:

    @Sandy Mcclintock:

    Makes you wonder how all those 20 year warranties are doing… How many projects were built (or are being built) with the “world’s biggest” product and a nice warranty card in a drawer…

  6. E.M.Smith says:

    http://www.greenchipstocks.com/articles/suntech-nysestp-solar-bankruptcy/2140

    From last October…

    Suntech has $541 million of convertible notes due in March, more than triple its market value of $164 million. It has a total of almost $2.3 billion in debt and is expected to report a loss of $495 million this year, the average of five estimates compiled by Bloomberg, as panel prices fall. The company is overleveraged and will face difficulties shoring up its balance sheet, Molchanov said in an interview.

    $2.3 Billion. About 1/2 the “Haircut” amount in Cyprus… Wonder who is holding that debt and getting wiped out…

  7. sabretoothed says:

    Invest With Australian of the Year Tim Flannery turn your Investment from $2 a share to 9c http://bigcharts.marketwatch.com/quickchart/quickchart.asp?symb=au%3Agdy&insttype=&freq=2&show=&time=13

  8. R. de Haan says:

    Green and bankruptcy go hand in hand. There is 3 times more production capacity than demand. So prepare for more manufacturers to go belly up.

  9. DirkH says:

    E.M.Smith says:
    21 March 2013 at 3:22 am
    “$2.3 Billion. About 1/2 the “Haircut” amount in Cyprus… Wonder who is holding that debt and getting wiped out…”

    I guess Chinese government-controlled banks; some more bad loans to be written off.

  10. adolfogiurfa says:

    It´s a SOLAR MINIMUM! WOW!

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