Solar ETFs Drop Sharply After Reports of Panel Glut | ETF Trends

Solar stocks and exchange traded funds (ETFs) plummeted after oil prices fell lower and investors worried about an oversupply of solar panels.

One analyst at Lehman says the sell-off could be because of a misinterpretation of statements made by a solar executive, reports Dirk Lammers for the Associated Press.

Oil fell to $103.26 today – its lowest point since April 1.

In a note to clients, SunPower Corp.’s (SPWR) CEO made comments about price declines that were inconsistent with estimates provided during the company’s second quarter earnings call. The Lehman analyst maintains a positive rating for the sector, but that continued volatility is expected until Spanish and U.S. market government incentives are resolved.