New York, May 23, 2026, 15:04 EDT
First Solar Inc. shares finished Friday at $257.85, gaining 3.6% for the day and up 10.5% since last Friday. The stock climbed in three straight sessions following a fall on Tuesday, putting it less than 10% off its 52-week high.
U.S. stock markets are closed Monday for Memorial Day, so there’s no regular trading. Nasdaq marks May 25 as a holiday, noting that cash trading usually happens from 9:30 a.m. to 4 p.m. Eastern.
The buying came from a broader trade tied to First Solar’s position as a U.S. solar-panel maker in a market pressured by tariffs, local-content mandates, and buyers looking to cut supply-chain risk. After the company’s April results, Reuters reported that U.S. tariffs and tighter trade enforcement pushed up the price of imported panels, giving First Solar more pricing power as developers chose domestic products.
GameChange Solar said earlier this week it has formed a strategic partnership with First Solar to help roll out India-made thin-film solar modules. These modules use a thin semiconductor layer instead of the usual crystalline silicon. The companies pointed to two Indian utility-scale projects where First Solar modules are paired with GameChange tracker systems, keeping uptime near 99.8%. First Solar’s Sujoy Ghosh said the move may give developers “greater certainty.” GameChange’s Vikram Kenjale highlighted “consistent generation over the day.” PR Newswire
First Solar got a lift from its latest results. The company reported Q1 net sales up 24% year-on-year to $1.04 billion and net income at $347 million, or $3.22 a share. 2026 sales guidance stays at $4.9 billion to $5.2 billion. CEO Mark Widmar said it’s a “strong start to 2026” and that First Solar’s “competitive position continues to strengthen.” SEC
Investors had the backlog to look at, too. First Solar’s management said it had 47.9 GW of contracted backlog as of March 31. Those deliveries are set through 2030. A gigawatt is a unit of power capacity, referring here to future module deliveries under contract.
SolarEdge Technologies ended down 1.7% Friday, Sunrun added 1.2%, and First Solar did better than both. The Invesco Solar ETF, which holds solar stocks, rose 1.6%, according to MarketWatch.
Strong trading in the broader market didn’t hurt. U.S. stocks closed higher heading into the holiday weekend. The S&P 500 added 0.37%, and the Dow was up 0.58%, according to MarketWatch. First Solar’s rally happened on a day when most of the tape was positive.
But the setup isn’t straightforward. First Solar leadership has linked their next moves to U.S. trade policy, including Section 232, tied to national-security tariffs. Management told investors that Malaysia and Vietnam output could stay at full tilt, shift some work to U.S. finishing plants, or see some lines shut if the numbers on demand and tariffs don’t add up. Running factories below efficient levels would squeeze near-term margins.
Stocks reopen Tuesday after the Memorial Day break, making the open the first test for the week. The move in the stock has been quick, and traders are watching to see if buyers stick around at $258 with no new company filing, tariff move, or India news.
First Solar’s main issue hasn’t changed this year: can policy support and U.S. factory orders make up for tariffs, slow permits and customer delays? For now, the market sided with the company. The next session will test if that was just pre-holiday positioning.
