New York, Feb 6, 2026, 15:20 EST — Regular session
- First Solar shares dropped roughly 7% in afternoon trading, moving counter to the wider market’s gains.
- Tesla is looking at potential U.S. locations to boost its solar cell manufacturing, according to a report.
- Next up: First Solar reports on Feb. 24, with investors eyeing its guidance for 2026.
First Solar shares slid roughly 7% on Friday, lagging other solar names, after a report surfaced that Tesla might look for new U.S. sites to ramp up solar cell manufacturing. The stock dropped 7.2% to $217.49, having traded as high as $239.57 and as low as $214.85 earlier in the session.
This shift carries weight—First Solar stands out as a key U.S. manufacturing name in solar. Even whispers of fresh American supply can jolt pricing forecasts and spark speculation on new orders, long before anyone picks a factory location.
This comes just a few weeks ahead of First Solar’s scheduled 2026 guidance announcement. With a potential heavyweight competitor in the headlines, traders typically avoid risk before new outlooks drop.
Tesla is weighing several U.S. locations for solar cell manufacturing, according to Bloomberg, while also considering ramping up its Buffalo, New York, plant. Sources told the outlet that the Buffalo facility’s capacity could hit 10 gigawatts. 1
Reuters said earlier this week that delegations connected to Musk had toured a number of Chinese solar firms. Elon Musk, for his part, doubled down on plans to set up 100 gigawatts of solar cell capacity in the U.S. and argued, “The solar opportunity is underestimated.” 2
First Solar is doubling down on its “American-made” message. In a Feb. 4 statement, the company highlighted results from its own polling: 70% of Republican-leaning voters supported solar when the panels came from the U.S. Executive vice president Samantha Sloan put it this way: “It’s time for us to focus on what’s important to our country.” 3
Friday saw a notable dip, even as the broader tape firmed up. The S&P 500’s SPDR ETF climbed roughly 1.8%. Invesco Solar ETF, for its part, gained close to 3%.
Shares of residential-focused solar companies climbed, despite a slip in First Solar. SolarEdge and Enphase each posted gains.
In a separate regulatory filing, FMR LLC and Abigail P. Johnson disclosed holding a 6.1% stake in First Solar as of Dec. 31, according to a Schedule 13G. That particular form, required when investors exceed 5% ownership but aren’t aiming for control, was filed with the SEC. 4
First Solar specializes in thin-film solar modules and mainly targets utility-scale installations, unlike rooftop-oriented rivals. Even so, the shares often move on any headlines that shift how investors see U.S. manufacturing supply.
But timing complicates the selloff. Tesla is still just looking for a site, according to the report, and any real output could be a long way off. First Solar’s contract pipeline, plus whatever guidance it puts out later this month, might flip the conversation much sooner.
Looking ahead, Feb. 24 marks the date for First Solar’s next key event: the company will release fourth-quarter and full-year 2025 numbers, along with its 2026 outlook, following the market close. 5
