Solar City IPO

[Adm]

http://www.bloomberg.com/news/2012-12-12/solarcity-cuts-proposed-ipo-pricing-increases-size-of-placement.html

SolarCity Corp. (SCTY), the solar power provider led by billionaire Elon Musk, cut the proposed pricing of its initial public offering while increasing the number of shared offered.
The San Mateo, California-based company sees a price of $8 each after increasing the size of the offering to 11.4 million shares from 10.1 million, according to a regulatory filing. The IPO had been scheduled to price yesterday in a range of $13 to $15 apiece.

 

[Johan]

It's showing now a $8 a share on Nasdaq and poised to start trading when the bell rings in one hour. What do you all think. Is it a good valuation? Buy at this price?

 

[JRP3]

Might be worth waiting, the fact that they had to drop the share price before the IPO doesn't seem like a good sign, at least short term.

 

[al_chumley]

It's showing now a $8 a share on Nasdaq and poised to start trading when the bell rings in one hour. What do you all think. Is it a good valuation? Buy at this price?

I'm in at $9.25 at the start of trading - only 35 shares, though, in my small speculative account. Red flags all over this one, but I'm going on theory that Elon can do no wrong, and will get things straightened out Also going on the theory that if everyone is thinking the same thing (that it's a bad deal in this case), that the opposite usually happens.

I'm leaving it open for future investment, after there is some more clarity on a number of things (fraud investigation, primarily).

 

[JRP3]

So far it hit 12.70 and it looks like some quick profit taking kicked in pulling it back down.

 

[Bearman]

NEW YORK—SolarCity Corp.'s steps to the market were uncertain, but the solar-panel-installation firm's arrival went just fine.

In its trading debut Thursday, the stock surged 47% to $11.79 on the Nasdaq Stock Market, NDAQ +0.08% opening well above its $8 offering price and climbing throughout the trading day.

http://online.wsj.com/article/SB10001424127887324481204578177672586854646.html?mod=googlenews_wsj

 

[Grendal]

It's showing now a $8 a share on Nasdaq and poised to start trading when the bell rings in one hour. What do you all think. Is it a good valuation? Buy at this price?

Now that the day is over, I'd say that was a resounding YES!. Hindsight is 20/20. :love:

 

[JRP3]

Don't forget that 4 days after the IPO at 23 TSLA dropped to 16, and then took three months to get back up to 23.

 

[Bardlebee]

I got in late, 11:90, nothing decent for today by itself, but I am long on this business as well and I didn't put a whole lot in compared to TSLA. I am pretty excited about this either way.

 

[CyberDutchie]

Article today: Top Insider Trades: Another Big Purchase in SolarCity

In purchases, venture capitalist John Fisher, a corporate director at solar power and technology interest SolarCity (NASDAQ:SCTY), bought $24,000,000 worth of stock in the company. This follows CEO Elon Musk's purchase of $15,000,000 of company stock yesterday.

How does that square with a volume of 324,795 today and with the price drop over the last two days?

 

[teslaspotter]

I'd say wait. My battery pack money just disappeared w/A123. I bought IPO to support the company.. I knew the risk but could do nothing after I recognized the corporate raider when he arrived on the scene. live & learn Nowadays I would buy the product to support the company, instead!

 

[CyberDutchie]

I got in late, 11:90, nothing decent for today by itself, but I am long on this business as well and I didn't put a whole lot in compared to TSLA. I am pretty excited about this either way.

I got in at 11.82, but if today's price holds around $15 I've already gained more on SCTY in dollars in 3 weeks time than on holding TSLA for over one year!

 

[Bardlebee]

I got in at 11.82, but if today's price holds around $15 I've already gained more on SCTY in dollars in 3 weeks time than on holding TSLA for over one year!

That's good to hear. For me, I invested a quarter of what I have in compared to my TSLA stock. Wish I placed more in for the bet... everything is coulda woulda shoulda though.

I am certain it will hold, I have a feeling that the news of the projected growth and their history of projecting their growth correctly in comparison to last year is a good sign.

 

[Ocelot]

oh man, kept meaning to buy in when in th 12's..now keep waiting for a dip and all i see is green.

 

[JRP3]

Yeah I was hoping for a post IPO dip as well, not looking too good. Congrats to all those that got in.

 

[Bardlebee]

I have read the solar has been struggling the past few years, I am hoping that solar in general is making a comeback of sorts as the technology matures. Hopefully this will reflect well not just on SolarCity but on all solar companies and renewables.

 

[ggr]

I have read the solar has been struggling the past few years, I am hoping that solar in general is making a comeback of sorts as the technology matures. Hopefully this will reflect well not just on SolarCity but on all solar companies and renewables.

The problem with some solar companies is that the actual panels are completely commoditized, with very slim profit margins. But Solar City doesn't care what panels they use. They are in a more "internet-like" business where they sign up subscribers for long term contracts, and their margins just keep getting better over time.

 

[Bardlebee]

I wonder what is pushing down the stock the past few days. Bought some more at 14.10, time will tell if that was a bad move or not.

I suppose since I don't see any new news its just the market being the market.

 

[tslas]

Sorry to be off topic,

But does anybody follow SCTY (SolarCity), Do you know when is the next earning statement going to be released for it?
SCTY is trading at 15% down from Friday's price. And I am wondering if it is a good opportunity to jump in.
I have been looking for analysis on it , but can't find anything.

Thanks

 

[JRP3]

Sorry to be off topic,

But does anybody follow SCTY (SolarCity), Do you know when is the next earning statement going to be released for it?
SCTY is trading at 15% down from Friday's price. And I am wondering if it is a good opportunity to jump in.
I have been looking for analysis on it , but can't find anything.

Thanks

There is a SCTY thread here.