Evergreen Hits Record Low After Globe Reports Loss of Tax Breaks
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Evergreen Solar Inc., a maker of solar photovoltaic cells and panels, reached a record low after the Boston Globe reported that it would lose state tax benefits in Massachusetts.
Evergreen fell 10 cents, or 10 percent, to 90 cents in Nasdaq Stock Market trading, the lowest since its initial public offering in November 2000. The Marlboro, Massachusetts-based company’s shares have lost 74 percent of their value this year.