Back on May 14, 2024, Jim Cramer of Mad Money emphasized, First Solar, Inc. (NASDAQ: FSLR) is a profitable American-made solar company and is the real beneficiary of the Biden administration's decision to top tax rates of 25% to 50% on Chinese solar cells. This is what he said at that time:
"How about solar cells? The government raised tariffs on Chinese solar cells from 25%, and the market responded completely wrongly. Yes. Yes. The worst solar stocks, those that rely on those losses of cheap Chinese panels, all of which have a big short position, because they also have a short position. In this crazy market, stocks are falling at these levels to next year's revenue estimates, nine times, which is a relatively high winner before we consider tariffs on some of the major competitors, which is part of us.
Cramer's view is not accurate, because despite his strong bullishness, the stock has risen only 3.21% over the past year.
First Solar, Inc. (NASDAQ: FSLR) manufactures thin-film solar panels made in the United States for large utility-scale energy projects and is a leader in clean energy production in the country. Kramer remains optimistic about solar stocks. This is what he said in 28Th January.
"It's a very cheap stock. I tell you, I'm still from NXT, Nextracker... Actually reporting the amazing rise tonight. ... When I investigated, I said it's good for solar, I'll tell people who belong to charitable trusts, tell people that whether it's the investment club, whether it's time to make Solar more aggressive."
Although we acknowledge the potential growth of FSLR, our belief lies in the belief that certain AI stocks have greater returns and limited downside risks. If you are looking for more promising AI stocks than FSLR and have 100x upside potential, check out our report Cheapest AI stocks.
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Disclosure: None.