Solar Energy Stock Shines on Revenue Surge

Solar Alliance Energy Inc. (TSXV:SOLR), a solar energy stock, moved higher after announcing record fourth-quarter revenue

Sean Mason | May 3, 2018 | SmallCapPower

A big revenue bump sparked interest in a solar energy stock Thursday. Here’s some small stocks making big moves on Thursday, May 3, 2018 (as of 4 pm EST):

Solar Alliance Energy Inc. (TSXV:SOLR), a solar energy stock, powered 17% higher to $0.07 on Thursday after announcing record fourth-quarter revenue of $2.1 million, compared with $574,103 for the previous quarter.

As well, shares of Stingray Digital Group Inc. (TSX:RAY.A) slipped 12% to $9.50 as the provider of multiplatform music and video services said it has agreed to acquire Newfoundland Capital Corporation Limited (TSX:NCC.A), with 101 radio broadcasting licences across Canada, for a purchase price of $14.75 per share in cash, or a total transaction value of approximately $506 million including the assumption of net debt.

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Colabor Group Inc. (TSX:GCL), meanwhile, reported an 8% decline in its first-quarter sales to $245.9 million. Colabor is a distributor and wholesaler of food and non-food products. Its stock price fell 16% to $0.51 following the announcement.

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Disclosure: Neither the author nor his family own shares in any of the companies mentioned above.

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