First Solar Falls for Seventh Day After Loan Guarantee Failure
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First Solar Inc., the largest maker of thin-film solar panels, sank for a seventh day in Nasdaq trading after losing a $1.9 billion U.S. Energy Department loan guarantee for a project in California that it plans to sell.
The stock fell $2.64 to $64.21 at 10:37 a.m. local time. That’s the lowest for the Tempe, Arizona-based company since May 2007 and increases the loss in market value to $2.3 billion for the seven-day drop.