SolarCity Corp (SCTY) News: Systems Spending, Tricks & Elon Musk Investing

SolarCity Corp (NASDAQ:SCTY) gained by 9.10%, Myriad Genetics Inc (NASDAQ:MYGN) (NISMagazine)
SolarCity Corp (NASDAQ:SCTY): Friday’s trading session saw SolarCity Corp (NASDAQ:SCTY) shares rising by 9.10%. The opening price of $27.49, moved on to touch an intraday high of $29.12 before sliding down to $27.35 per share. More than 4.68 million shares changed hands in the trading session on Friday. This number was in excess of the average volume of 0.737 million which was calculated over a 30-day period. In recent times, the solar industry has been on the downtrend due to overcapacity. In addition to this, governments from across the globe have been unable to provide it subsidies. However, SolarCity Corp (NASDAQ:SCTY) has been following a very innovatively developed business model that aims at taking advantage of the demand for solar energy solutions, from the ground up.

Musk’s SolarCity, Tesla stock up a half billion! Today! (BizJournals)
Tesla Motors Inc (NASDAQ:TSLA) and SolarCity Corp (NASDAQ:SCTY) made Elon Musk a lot richer on Monday, with both stocks hitting all-time highs and increasing his holdings by about half a billion dollars. His stock in Tesla Motors Inc (NASDAQ:TSLA) rose about 14 percent, giving him a paper gain of about $346 million. The stock has jumped by 57 percent in the past three days. His shares of SolarCity, the solar installer run by his cousins, jumped by more than 24 percent on Monday, giving him a paper gain of nearly $146 million. Musk is SolarCity Corp (NASDAQ:SCTY)’s chairman and biggest shareholder, controlling 20.8 million shares and giving him a nearly 28 percent stake in the San Mateo company.

“An Elon Musk Trade”: Why SolarCity Rose 50% in a Week (WSJ)
What does a company that installs and manages rooftop solar panels have in common with a company that makes expensive cars? When you put it that way, not much. But add in a couple of important extra details and you have the makings of a pretty strange stock market rally, the WSJ’s Anna Prior reported this afternoon: Shares of solar-panel installer SolarCity Corp (NASDAQ:SCTY) continue to surge, up more than 50% since last Tuesday, and Tesla Motors Inc (NASDAQ:TSLA)’s better-than-expected 1Q report last week is getting credit. “It’s an Elon Musk trade,” Raymond James’ Pavel Molchanov tells Dow Jones, noting that while not logical, considering Tesla and Solar City are two distinct non-overlapping businesses, Tesla Motors Inc (NASDAQ:TSLA)’s CEO is a major shareholder and his chairman role at SolarCity Corp (NASDAQ:SCTY) seems to be giving shares a boost…