SolarCity Soars (10/13)

ETF PM currently has long positions in SolarCity (SCTY) and Tesla (TSLA).

October 11, 2013

SolarCity Soars On Installment Expectations For 2014

By Brian Deagon, IBD

SolarCity (SCTY) stock soared Friday to a five-month high after the company announced it will significantly expand its solar energy installations in 2014.

The company, whose chairman is Tesla Motors (TSLA) CEO and founder Elon Musk, expects to achieve 278 megawatts of solar energy power deployed this year, increasing that to between 475 and 525 megawatts next year. At the midrange, that would be an increase of 80%.

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