Solarfun Power Holdings sinks on broader market pressure
Shares of Solarfun Power Holdings Co., Ltd. (Nasdaq: SOLF) are under pressure today due to a broader sector sell off on lighter volume in an overall weaker market, according to Lazard Capital analyst Sanjay Shrestha.
Additionally, Shrestha says Akeena Solar, Inc.’s (Nasdaq: AKNS) earnings, which were reported on Nov. 13, came in lower than analysts expected and are weighing on the stock.
“The [falling stock price] is not company specific,” said Shrestha.
Shares of Solarfun Power (SOLF) toppled 11.56%, or $1.36, to $10.40 at 1:13 p.m. ET. Shares of Solarfun Power have been trading in the range of $8.22 to $17.69 for the past 52 weeks.
