SolarCity (symbol SCTY) recently (12/13/12) sold stock to the public. Because solar PV is perceived as a low-margin business these days (thanks at least in part to heavy competition from China), the IPO price of the stock was driven down to $8.00.
In 2013 so far — 10 trading days, as of the close the afternoon of 1/15/13 — SCTY stock has been MUCH higher. It has actually run up, in one trade, as high as $16.94. Yesterday’s close: $13.72. It was over the $15 mark just a few days ago.
Now, much is made of how Wall Street insiders make money getting stock at the IPO price and “flipping” it almost immediately for fast profits.
Here, you could easily have bought SolarCity stock — on the open market — in very late 2012 at prices of $10 to $11, and sold it before the 15th of January at a price above $15 (the daily high was above the $16 mark from 1/7/13 to 1/10/13).
That’s an instant profit of 30% to 40%. And you didn’t have to know anybody!
Source: http://electricalcontractor.com/?p=7776
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