Renesola: Burning Hot Solar Stock

I have been watching Renesola (SOL)
since it was first listed on the New York Stock Exchange back in late
January. <!--more-->I bought my first round of shares at $11.60 and watched the
stock price drop below $8 without breaking a sweat. I believed in the
fundamentals of the company then and I still do now.

Of course,
Renesola stock did not stay below $8 for very long and when it broke
toward the $9 mark, I bought a significant number of shares for $8.90,
recommended the company in the April edition of my newsletter Road Less Traveled
and alerted subscribers that solar shares had put in a bottom. In the
following three weeks, shares of SOL shot up 74%. While the entire
sector has realized a lift in the past month, Renesola, along with
SunPower (SPWR), have led the way. Another competing solar wafer manufacturer, MEMC Electronics (WFR), is actually down about 10% over the same time period.