India, April 22 -- Shares of First Solar, Inc. (FSLR) gained over 12% on Tuesday morning after the U.S. trade officials announced new tariffs of up to 3,521% on imports of solar panels from four Southeast Asian countries.
FSLR is currently trading at $137.69, up $15.24 or 12.44%, on the Nasdaq. The stock opened its trading at $131.46 after closing Monday at $122.45. The stock has traded between $116.56 and $306.77 in the past 52-week period.
The US commerce department's new tariffs targets companies in Cambodia, Thailand, Malaysia and Vietnam. The new tariffs conclude an investigation that begun a year ago when American manufacturers of solar panels accused Chinese companies of flooding the market with subsidized, cheap goods.
Chinese so...