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Strategies & Market Trends : Can you beat 50% per month? -- Ignore unavailable to you. Want to Upgrade?

To: Smiling Bob who wrote (6067)	8/20/2003 11:24:24 AM
From: Smiling Bob	Read Replies (1) \| Respond to of 19256

ESLR- bounce buy @ 2.35 Dow Jones Business News Evergreen Solar Shares Surge Amid Blackout Fallout Tuesday August 19, 6:02 pm ET By Gretchen L. Wilson NEW YORK -- Evergreen Solar Inc. (NasdaqNM:ESLR - News) shares soared 70% in heavy trading, activity the solar-panel manufacturer attributed to focus on alternative energy sources after last week's blackout. Company officials said they had no specific news, other than the firm will be featured on two CNBC programs Wednesday. At 4 p.m. EDT on the Nasdaq Stock Market (News - Websites), shares of the Marlboro, Mass., company were at $2.97, up $1.22, on volume of three million shares. The daily average is 47,800. The stock earlier hit a 52-week high of $3.25. In a press release early Tuesday, Evergreen Solar said it would be featured on reports about alternative energy on CNBC's "Squawk Box" and "Power Lunch" shows, though company officials admitted such a release wouldn't typically justify such dramatic stock-price movement. "It is hard to say whether it was prompted by CNBC," said Chief Executive Mark Farber in a telephone interview. He added Tuesday's trading volume was more than three times the company's previous record of about 960,000 shares, and that since going public in November 2000, Evergreen Solar's previous record for one- day stock growth was 44%. "Anytime there is an event like the blackout in the Northeast, or the California energy crisis, it immediately turns people's attention toward something they've taken for granted, namely, where does their electricity and energy come from," said Bill Kanzer, Evergreen Solar's marketing and sales director. The stock's rise comes a day after First Albany analyst Sanjay Shrestha released a research note on companies in the alternative-energy sector, including Evergreen Solar. "We believe that shares of Evergreen Solar could also enjoy near-term favorable trading," wrote Mr. Shrestha. He added the company "seems to be making decent progress with its manufacturing line." It wasn't immediately clear whether First Albany has an investment-banking relationship with Evergreen Solar or whether Mr. Shrestha owns stock in the company. -By Gretchen L. Wilson; Dow Jones Newswires; 201-938-5394