Real Goods Solar's stock more than doubles after license deal
Shares of Real Goods Solar Inc. (RGSE) more than doubled on heavy volume in premarket trade Wednesday, after the company said it entered into an exclusive license agreement with Dow Chemical for its Powerhouse solar shingles system. Trading volume topped 1 million shares more than a half-hour prior to the open, compared with a full-day average of about 131,000 shares. Real Goods, also known as RGS Energy, will lead all commercial activities for the product, including supply chain management, marketing, sales and installation. The stock, which rose 118% premarket, had plunged 88% year to date through Tuesday. DowDuPont Inc.'s stock (DWDP) had climbed 23% and the S&P 500 had gained 13%.
-Tomi Kilgore; 415-439-6400; AskNewswires@dowjones.com
(END) Dow Jones Newswires