Solar Power Inc (OTCMKTS:SOPW) Takes a Sudden Blow
Yesterday the share price of Solar Power Inc (OTCMKTS:SOPW) took a sudden nasty blow. The ticker slipped 14.5% to stop at $1.65 per share. It’s very hard to tell what exactly caused the drop.
After a whole month in which SOPW never moved even 5% in either direction in a single session, Monday brought a violent jolt that pushed the ticker to a double-digit red close. The trigger for this move is practically missing. The company did not put up any adverse material information or press release yesterday or over the weekend.
SOPW‘s last PR came last Wednesday, when the company announced the launch of a green energy payment platform named “Lvdiantong”. The platform will be part of the Solarbao portal, which serves as a gateway for investing in green energy.
SOPW put up its latest quarterly report less than two weeks ago, on Aug 14. The filing contained the following figures:
- $114 million in cash
- $400 million in current liabilities
- $59.8 million in sales for Jan-Jun 2015
- $51 million in net loss for Jan-Jun 2015
The company’s cash resources and its revenue generation potential are quite surprising for an OTC entity but what might be holding things back for SOPW is that the company is essentially a operating in China and many are still wary when it comes to Chinese businesses.
It’s curious that SOPW dropped just yesterday, multiple days after its report and with no visible trigger for the trip-up. Over the past six months the stock charter multiple massive ups and downs within short time frames, so this could be another one of those.
