Why GT Advanced Technologies Shares Advanced
Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.
What: Shares of GT Advanced Technologies have jumped by as much as 12% today after the company announced a promising contract.
So what: GT has inked a memorandum of understanding with Powertec Energy, where Powertec will purchase polysilicon technology and equipment from GT for expansion projects. Powertec has already begun design work on the projects and GT expects orders to start during the second half of 2014.
Now what: The company expects the rebound in the solar industry to boost sales. Powertech Chairman YiYi Tai said it is planning on increasing capacity next year, which will be made possible by GT's technology. Once all projects are completed, total capacity at the solar site in question is expected to nearly quadruple by the time everything is said and done.
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The article Why GT Advanced Technologies Shares Advanced originally appeared on Fool.com.Fool contributor Evan Niu, CFA, has no position in any stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.
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