Cramer Says Solar is 'Done' (FSLR, SPWRA)

When asked about the solar sector on today's segment of Stop Trading!, CNBC's Jim Cramer simply said "It's done." Once a high-flying part of the stock market, solar stocks have plummeted recently amid crashing crude oil prices and concerns of a much broader, global slowdown.

Cramer mentioned several popular solar stocks, including SunPower (Nasdaq: SPWRA) and First Solar (Nasdaq: FSLR). Cramer has consistently told investors to play the sector with First Solar, the so-called "best-of-breed" solar company, but today he said he doesn't want to own the stock.

Shares of First Solar are currently trading around $121.50, down 11.5%, or nearly $16, from yesterday's closing price. Since the beginning of October, First Solar stock has fallen nearly 40% as oil has fallen from about $100 to under $70. Since hitting a 52-week high at $317 in mid-May, shares of First Solar have fallen about 61%.

First Solar, Inc. designs, manufactures, and sells solar electric power modules using a proprietary thin film semiconductor technology.

You May Also Be Interested In