Real Goods Solar, Inc. (NASDAQ: RGSE) is having a great day in the market today. But if you’re looking for press releases or SEC filings that are leading to this more than 20% run, you’re not going to find any. Today, we’ll talk about:
- Why RGSE is headed up;
- what we’re seeing from the stock; and
- what we’ll be watching for ahead.
Why RGSE Is Running
As mentioned above, Real Goods Solar is running for the top in the market today, but there’s no news out. So, what’s leading to the gains? Well, that’s anyone’s guess, but in my opinion, there are a couple of points of excitement,
First and foremost, Goldman Sachs recently put out a note with regard to what they are expecting in 2019. During the year, the firm believes that stocks will gain modestly as risk from tarrifs and high valuations slow growth. Nonetheless, Goldman remained bullish on the utilities sector, raising it to overweight. The bank also pointed to technology and communications services as stocks that look good heading into the new year. This opinion largely goes in favor of RGSE and could have something to do with the gains that we’re seeing today.
There’s also a bit of excitement brewing after the company recently called Tesla out. In a press release issued on the 13th of November, RGSE said that the battle for the solar shingles market in the United States will be kicking off in the first quarter of 2019. In the release, the company said that both it and Tesla are starting to ramp up production and that the battle for solar shingle dominance is on. With a release like the one sent out on the 13th, the company is clearly confident in its ability to become a leader in this space.
Investors also seem to be anticipating an announcement. After all, Real Goods Solar is great at communicating with its investors as can be seen by the 8 press release issued by the company since August 1st. Considering its trend, news could be coming soon, and some investors are excited to see it. As excitement grows surrounding the company’s next announcement, this could be playing a role in the gains today.
What We’re Seeing From The Stock
While there was no news released by RGSE today, there are a few reasons to be excited about the company, and that excitement seems to be equating to gains today. As is normally the case, our partners at Trade Ideas were the first to alert us to the gains. Currently (12:25), RGSE is trading at $0.79 per share after a gain of $0.16 per share or 25.20% thus far today.
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What We’ll Be Watching For Ahead
Moving forward, the iWatch Markets team will continue to keep a close eye on RGSE. In particular, we’re interested in following the increasing production and the run to take the solar shingles market by storm. Nonetheless, we’ll continue to follow the story closely and bring the news to you as it breaks!
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