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Dimming Down: Sell Renesola

Robert Hsu, August 18, 2008

It's the dog days of summer, and the sun is still shining bright. I hope you have had the chance to enjoy the beautiful summer weather, because before you know it, it will bee nowing and blowing outside again. So you have to enjoy it while it lasts – I know I am!

And you know who else is enjoying the bright sun? ReneSola (NYSE: SOL), a leading Chinese manufacturer of solar wafers. In May, I recommended SOL to my Asia Edge subscribers as a play on alternative energy.

The search for alternative energy sources is becoming fast and furious, and I thought that ReneSola would be leading the pack. It has branches all over the world and posted very impressive earnings numbers – like triple-digit earnings growth. And it seems like many people are trying to turn green, and solar power is one of the more popular choices for alternative energy.

But even with oil prices flirting with record highs, not everyone has become eco-friendly. There are still huge gas-guzzling SUV's on the road, lights are still kept on all night and recycling is still trying its best to catch on. It is disappointing to see this, because I know, as a nation, we can work together and protect our environment. It is important for our future generations and the ecosystem, and I think finding alternative sources of energy is one of the first steps to achieve this.

And that's where ReneSola comes in. Click to the next page for more on SOL, and my current advice on the stock.

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