SunEdison Inferno Chars SolarCity, SunPower, Yieldcos
SunEdison’s (SUNE) inferno charred SolarCity (SCTY), SunPower (SPWR) and spinoffs TerraForm Power (TERP) and TerraForm Global (GLBL) on Wednesday, as IBD’s Energy-Solar Group plunged for the second day on Wall Street. In midday trading, IBD’s Energy-Solar Group was down 3% after falling 5.7% Tuesday following SunEdison’s mixed Q3 earnings cast doubt on the effectiveness of the industry’s trend toward putting assets into publicly traded companies