Solar stocks are often seen as basically leveraged oil stocks. So it is not surprising that the recent development of price of oil is reflected in the solar stocks and exchange traded funds (ETFs). Today, crude oil falls for the sixth consecutive day , which is the longest losing streak since the December 2008.
The losses are evident in both of the most interesting solar ETFs: Market Vectors Solar Energy (NYSE:KWT) and Claymore/MAC Global Solar Energy (NYSE:TAN). Both have taken losses of around 15 % during the last days.
If the price of oil continues to lose, the solar stocks will certainly continue this downward trend during the next days and weeks.