Volume Spike Investor

Evergreen Solar Inc. (NASDAQ: ESLR) is seeing shares hit on high volume for an after-hours session for the stock.  The company announced it was selling $300 million in convertible notes and was entering into derivative contracts to limit the dilution.  Wit a $1.4 Billion market cap at the close and on the heels of that huge contract award(s) announcement last week, you can imagine that shares are getting hit in after-hours.

At 4:40 PM EST we have seen more than 291,000 shares trade hands with a last print down 3.7% at $11.14, and that is after closing down 4% at $11.57 on the normal day.  This trades on average about 7.9 million shares as of now on average days.

Jon Ogg
June 24, 2008