SolarCity has become a sort of proxy for the future of solar in this country. This tremendously successful company is coming up on a one year anniversary of its IPO in December. Several developments at SolarCity warrant a closer look into this dynamic company trying to stay ahead of the curve in a growing, competitive solar installation environment.
There was much skepticism among investors when SolarCity was preparing for its IPO in 2012. Solar stocks had been badly beaten up in recent years – the Ardour Solar Energy Index (SOLRX) had fallen fully 97% from its highs at the beginning of 2008 to its lows in November 2012. The reality for SolarCity, though, turned out to be much different.
Since SolarCity issued its stock on December 13, 2012, it has gained 466%! For the month of October alone SolarCity is up over 50%. Volume has steadily increased also. The one-month rolling average is at its highest level ever, and is double what it was just this past September.