Today, I will tell you about my individual stock holding Canadian Solar Inc. CSIQ listed on Nasdaq.
I bought 61 shares of CSIQ at $16.29/share on May 4, 2016. Since then CSIQ has risen to $17.04/share. I am currently up 4.60%. It was up $18.08 on Wednesday, but since went down.
Why invest in Canadian Solar?
I invested in Canadian Solar mostly because it was down too much and I believe that it will trade above $19/share.
It recently released its earnings on Wednesday.
The solar company reported adjusted first-quarter earnings of 39 cents a share on revenue of $721 million, blowing past expectations for 14 cents a share on sales of $663 million, according to consensus estimates from Thomson Reuters.
Canadian Solar also raised its full-year sales guidance. The company said that it now expects $3 billion to $3.2 billion in revenue for 2016. It had previously forecast $2.9 billion to $3.1 billion in sales for the year. The stock was up more than 12 percent on Wednesday.
Long or Short?
I am not long on this stock. This stock range from $21-$15/share. I will sell when it hits $19/share.
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