First Solar Falling on Analyst Comments

Axiom Capital analyst Gordon Johnson said on CNBC this afternoon that he has talked to companies in Germany that First Solar FSLR claims are its its customers, but that these companies told him they are not buying anything from First Solar. He said that he thinks the company could be booking domestic business as international business. Basically, he said that First Solar is saying one thing with regard to its business in Germany, but the actual companies are saying something different - that they aren't buying from First Solar. The stock is now starting to plunge on these comments and volatility is picking up in the name. At last check, FSLR has given back its gains for the day and was trading around the flatline. Volume has been very heavy in recent minutes as Johnson seemed confident in what he was saying on CNBC - mainly that First Solar was not being upfront about its German business.