Jim Chanos Raises Concerns With First Solar (FSLR), Shares Drop
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Shares of First Solar Inc. (NASDAQ: FSLR) are getting smacked on Thursday after Jim Chanos had several concerns with the company going forward, calling it "problematic."
"Seeing the pattern that shorts sellers love," Chanos said in an interview with CNBC. "Enormous insider selling, chairman has gotten rid of most of his stock in the last year and a half and departures."
Chanos sees the solar sector as trouble going forward, as reliance on traditional sources of energy will remain.
Shares of First Solar are down 4 percent to $139.04 in midday market movement on Thursday.
See the interview below. Chanos comments on First Solar at the 6 minute mark.
"Seeing the pattern that shorts sellers love," Chanos said in an interview with CNBC. "Enormous insider selling, chairman has gotten rid of most of his stock in the last year and a half and departures."
Chanos sees the solar sector as trouble going forward, as reliance on traditional sources of energy will remain.
Shares of First Solar are down 4 percent to $139.04 in midday market movement on Thursday.
See the interview below. Chanos comments on First Solar at the 6 minute mark.
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