And, indeed, a 47% pop is impressive – until one considers that the shares were priced at $8, compared to the $14-$15 range the California-based company had indicated previously.
Yet if the knee-jerk triumphalism of such glowing headlines seemed daft, so too the backlash has seemed disproportionate, with some financial writers deeming the company a delicious prospect for short-sellers.
There are compelling arguments for the notion that SolarCity – which installs PV systems on residential rooftops at no upfront cost, sells power to the homeowner at a fixed rate, and takes a cut off the top – is overvalued.
In
