Solar Power Inc (OTCMKTS:SOPW) Surges On News

[[tagnumber 0]][[tagnumber 1]]After a bad start of the year we saw Solar Power Inc (OTCMKTS:SOPW)’s stock make a decent run in the final days of February and the beginning of March, reaching levels above the $2 per share mark.[[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]]What followed, however, was a lot of hesitation and we finally saw a more committed movement from SOPW in the second half of May. Unfortunately, the direction in which the ticker was headed was downward and we saw [[tagnumber 6]]SOPW[[tagnumber 7]] reach a low of $1.43 per share last Thursday.[[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]]However, a few hours before the Friday session was to start there came a press release from company HQ. It announced that [[tagnumber 6]]SOPW’s[[tagnumber 7]] Board of Directors has approved a share repurchase program in which it plans to buy back $50 million worth of [[tagnumber 6]]SOPW[[tagnumber 7]] common shares over the course of the second half of 2015.[[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]]This provided for an impressive close of the week and a 37.76% gain in price for [[tagnumber 6]]SOPW[[tagnumber 7]] that finished the day priced at $1.97. Another thing that might be behind the big gains that the company stock recorded was the relatively small amount of 505 thousand traded shares that generated $892 thousand in daily dollar volume.[[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]]Today’s session has also started well so far. We see that [[tagnumber 6]]SOPW[[tagnumber 7]] has once again reached the $2 per share mark as of the writing of this article. Will it manage to keep its level is for time to tell. In any case, be sure to do your due diligence and weigh out the risks before making any investment decisions.[[tagnumber 2]]