I would like to apologize for not posting on the Prime Pick for a while. I have been very busy and in 2 to 3 days’ time, I should be back in full swing. Thank you for understanding.
Elon Musk (and the rest of the Solar Market) is facing HEAVY scrutiny from lawmakers on Capitol Hill (my theory is because they don’t have a scapegoat they can fire yet for Obamacare, but then again, they might actualy want to do something for the country *gasps*) because the Solar Industry has received more Government Grants and Subsidies then all the other industries combined, and it’s been around the least time. Elon Musk, being the owner of the solar market monopolizer SolarCity (Ticker: SCTY) (Well it’s not a monopolizer yet, but after all, it does control 22% of the Solar Market), was questioned vigorously on Capitol Hill by lawmakers facing heavy scrutiny from their constituents and Deep pocket Wall Street SuperPac backers. Mostly, lawmakers wanted to know what the industry as a whole does with all the subsidies and grants it gets. When Musk was unable to answer for what he or the industry does as a whole with their subsidies and grants, lawmakers moved onto a much more intriguing question that, ‘Musk, as the Founder and CEO of SolarCity, must know the answer too,’ stated on lawmaker. A senator from Kentucky had this question for Musk: “What does YOUR company do with the subsidies you get, Elon? The amount of subsidies your receiving, and the amount of subsidies your spending and filing taxes for don’t even have the same number of digits.”
……..And with those two sentences, the unnamed Senator from Kentucky put SolarCity and as a result a majority of Solar Stocks back into the coffin that they were nearly nailed shut with them inside from 2 years ago. However, First Solar Inc. (Ticker: FSLR) will DEFINITELY be receiving a boost and may even overtake SolarCity as the Solar King if Musk doesn’t get his best men on the job for him.
Remember: You read it first here on the Prime Pick!