SunPower (SPWR) NewsBite - SunPower Boosted by Higher Oil Prices

Posted on Friday, April 04, 2008 12:33 PM

SunPower Corp. (SPWR) opened at 82.32. So far today, the stock has hit a low of 82.17 and a high of 91.20. SPWR is now trading at 89.21, up 7.20 (8.75%). The stock hit its 52 week high of 164.49 in November and set its 52 week low of 47.22 in April. SPWR rose during last year, but had a big fall in 2008. Shares of solar-power stocks have been rallying today due to higher crude oil prices that jumped above $104 a barrel. Technical indicators for the stock are neutral and improving while S&P gives SPWR a positive 4 STARS (out of 5) buy rating. If you’re looking for a hedged play on this stock, consider a June bull-put credit spread below the $55 range. SPWR stock could fall up to 38.3% before expiration and this position would still be profitable. [RHF - Seven Summits Strategic Investments NewsBite]