Take a look at its sagging stock today and you’d never know that Jinko Solar (JKS) is expected to report blockbuster quarterly results after the close on November 24. At least in my eyes. The solar equipment bellwether got sucked into the Nasdaq whirlpool some 30 days ago and JKS stock price is 30% lower compared to where it was just a month ago.
But that doesn’t mean Wall Street isn’t drooling in anticipation of Jinko Solar’s third-quarter report. I am expecting truly phenomenal revenue and earnings performance and that might turn the tide for JKS stockholders, once again.
Suffice it to say, there are plenty of good vibes swirling around Jinko Solar these days. The company is seen as a main beneficiary of the current upturn in the solar industry.
Furthermore, governments around the World are announcing their war on gas engines. UK is about to bring forward a ban on the sale of new fossil fuel vehicles by 10 years to 2030, China aims to 20% of all cars in the streets to be either hybrid or electric, California wants to ban sale of new vehicles with ICE engines in 2035.
After all, someone has to make the solar panels to make all that energy that is used to power those cars, scooters and motorcycles. And as the biggest solar-equipment player out there, Jinko Solar is well positioned for another rally.