Canadian Solar Shines Following Raised Guidance
Canadian Solar Inc. (NASDAQ: CSIQ) shares are trading higher by $1.43 at $22.11 in Monday's session. The catalyst for the rally is announcement by the company of an increase in shipment and sales that will boost Q3 revenues from the $570-$620 million range to $805-815 million range.
Following a higher open, the issue retreated to $21.68 before resuming its rally. So far, it has reached $22.75 before falling back to the $22 area. That marks the highest level for it since it peaked on August 18 at $25.
Joel Elconin is the co-host of Benzinga39;s #PreMarket Prep, a daily trading idea radio show.
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