Why JinkoSolar Holdings' Shares Popped 19.2% Today
Shares of solar manufacturer JinkoSolar Holdings (NYSE: JKS) jumped as much as 19.2% in early trading Tuesday, after the company reported third-quarter 2019 results. Shares ended the day up 10.6%, after trading steady for most of the afternoon.
Total shipments were down 1.8% to 3,386 megawatts (MW) in the quarter, but revenue was up 8.2% to $1.05 billion. Gross margin was also up from 14.9% a year ago to 21.3%, driving net income of $50.9 million for the quarter.
Image source: Getty Images.
Source Fool.com
