Why First Solar Stock Dived by Almost 18% Today
The U.S. solar industry's tax credits might end up melting away sooner than expected.
A Senate committee has proposed this for the current budget bill.
10 stocks we like better than First Solar ›
Many parts of the U.S. were sunny on Tuesday, but that happy situation didn't extend metaphorically to solar energy stocks. Quite a few took major hits that trading session on the latest developments in the legislative sphere.
One of the industry's victims was First Solar (NASDAQ: FSLR), which went dim with a nearly 18% decline in its share price. That decline was far steeper than the 0.8% slip of the S&P 500 index that day.
President Trump's One, Big, Beautiful Bill remains a massive bone of contention in Congress, and has been the subject of much criticism and debate among lawmakers. It's also undergoing change as Senators adjust it in an effort at compromise.
On Tuesday, the Senate Finance Committee proposed speeding up the elimination of tax credits for solar and wind energy. Under current law, these do not expire until 2032; under the new proposal, they would be reduced by 60% next year and phased out entirely in 2028.
This contrasts with the bill's stance on tax credits for other forms of energy, specifically nuclear, hydroelectric, and geothermal. In its current form, the proposed law would actually extend these credits to 2036.
Although there is likely far more horse trading to come before the Senate finally settles on a form of the bill it can accept, renewable energy will almost certainly remain a target.
Investors are right to be concerned about the effect on solar and other types of green energy companies, although this feels like an over-reaction -- the better companies in this segment should be able to adjust to the demise of tax credits.
Before you buy stock in First Solar, consider this:
The Motley Fool Stock Advisor analyst team just identified what they believe are the for investors to buy now… and First Solar wasn't one of them. The 10 stocks that made the cut could produce monster returns in the coming years.
Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you'd have $660,821!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you'd have $886,880!*
Now, it's worth noting Stock Advisor's total average return is 791% — a market-crushing outperformance compared to 174% for the S&P 500. Don't miss out on the latest top 10 list, available when you join .
See the 10 stocks »
*Stock Advisor returns as of June 9, 2025
Eric Volkman has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends First Solar. The Motley Fool has a disclosure policy.
Why First Solar Stock Dived by Almost 18% Today was originally published by The Motley Fool
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
6 minutes ago
- Yahoo
Acurx Pharmaceuticals, Inc. Announces Exercise of Warrants for $2.67 Million Gross Proceeds
STATEN ISLAND, N.Y., June 17, 2025 /PRNewswire/ -- Acurx Pharmaceuticals, Inc. (NASDAQ: ACXP) ("Acurx" or the "Company"), a late-stage biopharmaceutical company developing a new class of antibiotics for difficult-to-treat bacterial infections, today announced that it has entered into a warrant inducement agreement (the "Letter Agreement") with a certain holder ("Holder") of existing warrants to purchase up to an aggregate of 4,445,435 shares of common stock (the "Existing Warrants") having exercise prices ranging from $3.25 to $3.26 per share, issued by the Company in July 2022 and May 2023, wherein the Holder agreed to exercise the Existing Warrants at a reduced exercise price of $0.675 per share, resulting in gross proceeds of approximately $2.67 million, before deducting offering fees and other expenses payable by the Company. In consideration for the exercise of the Existing Warrants for cash, the investors received 6,223,609 G-1 warrants (the "G-1 Warrants") and 2,667,261 G-2 warrants (the "G-2 Warrants) to purchase up to an aggregate of 8,890,870 shares of common stock (the "New Warrants"). The G-1 Warrants are exercisable immediately at an exercise price of $0.425 per common share and will expire five years from the issuance date. The G-2 Warrants are exercisable upon shareholder approval at an exercise price of $0.425 per common share and will expire five years from the issuance date. The shares of common stock issuable upon exercise of the Existing Warrants are registered pursuant to effective resale registration statements on Form S-1 (File Nos. 333-267412 and 333-273015). The transaction is expected to close no later than June 20, 2025, subject to satisfaction of customary closing conditions. The Company intends to use the net proceeds from the exercise for working capital and general corporate purposes. The New Warrants are being issued in a private placement pursuant to Section 4(a)(2) of the Securities Act of 1933, as amended (the "Securities Act"), and Regulation D promulgated thereunder and, along with the shares of common stock underlying such New Warrants, have not been registered under the Securities Act, or applicable state securities laws. Accordingly, the New Warrants and underlying shares of common stock may not be offered or sold in the United States except pursuant to an effective registration statement or an applicable exemption from the registration requirements of the Securities Act and such applicable state securities laws. This press release shall not constitute an offer to sell or a solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or other jurisdiction. About Ibezapolstat Ibezapolstat is the Company's lead antibiotic candidate advancing to international Phase 3 clinical trials to treat patients with C. difficile Infection (CDI). Ibezapolstat is a novel, orally administered antibiotic being developed as a Gram-Positive Selective Spectrum (GPSS®) antibacterial. It is the first of a new class of DNA polymerase IIIC inhibitors under development by Acurx to treat bacterial infections. Ibezapolstat's unique spectrum of activity, which includes C. difficile but spares other Firmicutes and the important Actinobacteria phyla, appears to contribute to the maintenance of a healthy gut microbiome. In June 2018, ibezapolstat was designated by the U.S. Food and Drug Administration (FDA) as a Qualified Infectious Disease Product (QIDP) for the treatment of patients with CDI and will be eligible to benefit from the incentives for the development of new antibiotics established under the Generating New Antibiotic Incentives Now (GAIN) Act. In January 2019, FDA granted "Fast Track" designation to ibezapolstat for the treatment of patients with CDI. The CDC has designated C. difficile as an urgent threat highlighting the need for new antibiotics to treat CDI. About Acurx Pharmaceuticals, Inc. Acurx Pharmaceuticals is a late-stage biopharmaceutical company focused on developing a new class of small molecule antibiotics for difficult-to-treat bacterial infections. The Company's approach is to develop antibiotic candidates with a Gram-positive selective spectrum (GPSS®) that blocks the active site of the Gram+ specific bacterial enzyme DNA polymerase IIIC (pol IIIC), inhibiting DNA replication and leading to Gram-positive bacterial cell death. Its R&D pipeline includes antibiotic product candidates that target Gram-positive bacteria, including Clostridioides difficile, methicillinresistant Staphylococcus aureus (MRSA), vancomycin resistant Enterococcus (VRE) and drug-resistant Streptococcus pneumoniae (DRSP). To learn more about Acurx Pharmaceuticals and its product pipeline, please visit Forward-Looking Statements Any statements in this press release about our future expectations, plans and prospects, including statements regarding our strategy, future operations, prospects, plans and objectives, the timing and completion of the offering; the satisfaction of customary closing conditions related to the offering and the intended use of proceeds therefrom, and other statements containing the words "believes," "anticipates," "plans," "expects," and similar expressions, constitute forward-looking statements within the meaning of The Private Securities Litigation Reform Act of 1995. Actual results may differ materially from those indicated by such forward-looking statements as a result of various important factors, including: whether ibezapolstat will benefit from the QIDP designation; whether ibezapolstat will advance through the clinical trial process on a timely basis; whether the results of the clinical trials of ibezapolstat will warrant the submission of applications for marketing approval, and if so, whether ibezapolstat will receive approval from the FDA or equivalent foreign regulatory agencies where approval is sought; whether, if ibezapolstat obtains approval, it will be successfully distributed and marketed; and other risks and uncertainties described in the Company's annual report filed with the Securities and Exchange Commission on Form 10-K for the year ended December 31, 2024, and in the Company's subsequent filings with the Securities and Exchange Commission. Such forward- looking statements speak only as of the date of this press release, and Acurx disclaims any intent or obligation to update these forward-looking statements to reflect events or circumstances after the date of such statements, except as may be required by law. Investor Contact: Acurx Pharmaceuticals, Inc. David P. Luci, President & Chief Executive Officer Tel: 917-533-1469 Email: davidluci@ View original content: SOURCE Acurx Pharmaceuticals, Inc. Sign in to access your portfolio
Yahoo
9 minutes ago
- Yahoo
Colombia's Senate approves labor bill that would mean more pay and protections for workers
BOGOTA, Colombia (AP) — Colombia's Senate on Tuesday night approved a labor bill that is expected to grant workers more overtime pay while making it harder for companies to hire employees on short-term contracts. The bill's approval comes as tensions have been increasing between the Senate and President Gustavo Petro over reforms to the economy and health system that have polarized the nation's politics and tested the separation of powers in Colombia's fragile democracy. Petro has repeatedly accused Congress of blocking his reforms and last week issued a decree that called on Colombia's elections agency, the National Registrar, to organize a referendum on labor laws. The agency said Tuesday it would wait for Colombian courts to decide if it was legal for it to organize the referendum, because the Senate had voted against the referendum last month. Petro has threatened to change Colombia's constitution, by calling for a constituent assembly, if his request for a referendum on labor laws is not granted, and in a post on X Tuesday, said that those who did not approve the referendum were committing 'treason." Opposition leaders have accused the president of developing an authoritarian streak, as he tries to override decisions made by Congress. The labor bill approved by Colombia's Senate on Tuesday includes many of the changes to Colombia's labor laws proposed by Petro's party, the Historical Pact. It increases surcharges paid to employees who work Sundays and also makes companies pay more for late evening shifts, which is likely to apply to many retailers, restaurants and hotels. The bill also says delivery apps must formally hire delivery workers as freelancers or as full-time employees and help to pay for their health insurance. Business associations in Colombia oppose the changes, arguing they will raise the cost of employing people and could ultimately increase unemployment. Currently, 56% of Colombian workers labor with no contracts, in what is known as the informal economy. Economists expect the reforms to push more people into informality, while supporters of the bill argue they are just pushing for the restoration of rights workers had in the early 1990s, before Colombia began to make labor laws more flexible. The Senate and House of Representatives must now reconcile the differences in the bills each chamber drafted and then agree on a final version of the bill. Petro wrote in a message on X that he will continue to push for the referendum until legislators from both chambers have voted on a final bill. The Associated Press
The Verge
11 minutes ago
- The Verge
Senate passes GENIUS stablecoin bill in a win for the crypto industry
In a 68-30 vote on Tuesday evening, the Senate overwhelmingly passed the GENIUS Act with bipartisan support. Eighteen Democrats joined the majority of Republicans in passing the bill, which is the first to establish a federal regulatory framework for stablecoins, crypto tokens that are pegged to the value of the US dollar. In the past year, and after the crypto industry funneled over $131 million into Donald Trump's presidential campaign, the Republican Party has embraced the crypto industry with enthusiasm, voting overwhelmingly for the bill's passage. There were two GOP holdouts: Senators Rand Paul of Kentucky and Josh Hawley of Missouri, both ardent critics of Big Tech. The bill now goes to the House of Representatives, which is working on its own companion legislation, the STABLE Act. Its passage had not always been assured. Back in May, nine Democrats who'd previously supported the GENIUS Act suddenly reversed course, asking to revise the bill's text, and days later, Senators Elizabeth Warren (D-MA) and Ron Wyden (D-WA) successfully killed an attempt to bring the bill to a floor vote by citing several current events involving the Trump family's crypto ventures, including a controversial dinner for people holding large amounts of their memecoin $TRUMP. Warren, the ranking member of the Senate Banking Committee and a longtime consumer protection hawk, ultimately voted against the final version of the GENIUS Act. During a June 11th floor speech, she stated that the bill did not have adequate regulatory guardrails in place to prevent corruption: 'It would make Trump the regulator of his own financial company and, importantly, the regulator of his competitors.' It's a win, however, for the burgeoning digital assets industry, which has poured hundreds of millions into the political influence game in Washington, hiring political consultants and even a few Members of Congress on their behalf. In an interview prior to Tuesday's vote, Seth Hertline, Head of Global Policy at the crypto wallet company Ledger, described the GENIUS Act as a political bellwether for the industry as a whole. 'If the GENIUS Act derails, everything behind it derails,' he told The Verge.
