NEW YORK, May 25, 2026, 18:03 (EDT)
- U.S. markets didn’t open on Monday because of Memorial Day, so T1 Energy is set to trade again when markets reopen Tuesday.
- T1 Energy shares finished Friday at $8.08, dropping 7.34% for the session. The stock stayed about 42.5% higher than its close the previous Friday.
- A fresh 10 million-share buy by a hedge fund set the tone for trading this week, while a short-seller hit the name and Wall Street pushed back.
T1 Energy Inc. is going into the shortened U.S. trading week with shares still way up, despite Friday’s drop that brought the price to $8.08. The stock saw one of the biggest swings in the solar sector. Markets are closed Monday for Memorial Day, so trading starts again Tuesday.
T1 shares jumped 42.5% last week, measured from Friday’s close to the $5.67 finish on May 15. Volume hit more than 403 million shares across the week, with over 106 million trading hands Wednesday, the company’s stock history showed.
T1 shares gave back ground after this week’s rally, finishing Friday roughly 14% off the week’s $9.43 high. The debate is whether T1 is shaping up as a serious domestic solar contender or if the move was driven by a squeeze in a high-risk, controversial stock.
T1 Energy got a boost after a May 15 filing from Leopold Aschenbrenner’s Situational Awareness LP revealed a new 10 million-share stake worth $43.9 million at the end of Q1. The move turned the market back to T1, which earlier reported rising sales and a record adjusted EBITDA for the quarter.
T1 reported first-quarter net sales of $177.6 million, up from $53.5 million last year, with net income from continuing operations at $3.9 million. The filing also showed that related-party sales accounted for almost all net sales in the quarter, a detail that is likely to draw ongoing scrutiny from investors after last week’s short report.
T1 stuck to its 2026 production forecast for G1_Dallas at 3.1 to 4.2 gigawatts. CEO Dan Barcelo said earlier this month the company is focused on “hitting key construction milestones” and “driving profitability as T1 grows.” One gigawatt refers to annual solar output capacity here.
T1 said its G2_Austin solar cell plant’s first 2.1 GW phase is still on track, with plans to kick off cell production in the fourth quarter. The company also reported $174.7 million in estimated net proceeds from its bigger convertible-note deal. Convertible notes are debt that may be swapped into equity.
T1’s trade has issues. Short seller Fuzzy Panda Research, which is betting against the stock, said last week T1 isn’t in line with Foreign Entity of Concern (FEOC) rules. The rules block some tax-credit eligibility for certain foreign-linked companies. Fuzzy Panda also took aim at T1’s claimed $41.4 million in Section 45X manufacturing tax credits, federal credits for U.S.-made clean-energy gear.
Roth Capital analyst Philip Shen disputed the short report, telling pv magazine USA it was “misleading and/or false.” Shen said recording the credits as a non-cash offset to cost of goods sold followed standard accounting once eligibility conditions were reasonably assured, Roth told the publication. pv magazine USA
Peers showed a mixed, mostly positive session for investors. First Solar gained 3.6% to close at $257.85 on Friday. Canadian Solar was up 4.31% at $18.88, while the Invesco Solar ETF finished 1.68% higher at $65.95. But T1’s move for the week was much bigger than anything in the sector.
Another issue is hanging over the sector. The U.S. International Trade Commission launched a Section 337 probe in March into claims First Solar made about TOPCon solar tech patent infringement. TOPCon is a high-efficiency solar cell type. Reports on the probe have included T1 Energy as a respondent, linking its growth to a wider patent battle in the solar supply chain.
In the coming week, investors look to see if T1 holds Friday’s close and if trading volumes remain high after the break. They’re also waiting for more details on G2_Austin financing. Market sentiment could shift, too, as U.S. markets reopen and traders watch inflation numbers and headlines on Middle East peace following the long weekend.
Downside looks clear enough. If confidence drops in the tax-credit accounting, FEOC compliance, or G2_Austin’s timeline, last week’s squeeze may unwind fast. Bulls will say Friday was a pause if financing and construction updates hold up, not the end of the move.
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