Shares of GT Solar stock fell by 15 percent on the second day of trading. The Merrimack, N.H., company calls itself one of the largest suppliers of silicon photovoltaic solar equipment.
Its stock, under the ticker symbol SOLR on the NASDAQ market, was priced at $16.50 per share for the $500 million initial public offering of 30.3 million shares Thursday. That fell to $12.36 per share in midday trading.
The company declined to comment.
GT Solar's stock was overpriced by as much as two times compared to close competitor Centrotherm of Germany, said Ted Sullivan, … Read more