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Why First Solar Stock Just Dropped 10%

TheMotleyFool

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Why First Solar Stock Just Dropped 10%Photo, wide shot, wide-angle lens, Private equity firm, Blue hour, twilight, cool, ISO1200, slow shutter speed, photo by Edward Burtynsky: https://img.theapi.app/temp/2b695cca-48cb-4195-802a-e3385fb90ec0.png

The stock of First Solar (NASDAQ: FSLR) was flaming out on Wednesday, down 9.8% as of 11:45 a.m. EST, and you can blame Barclays Capital.

This morning, the British investment bank threw major shade at this solar stock. Once bullish on the shares, Barclays reversed course today and downgraded First Solar two notches -- all the way from overweight to underweight, assigning a target price of $49.

An aerial view of a solar farm. Image source: Getty Images.

Source Fool.com

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