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  • American Superconductor Corporation (NASDAQ:AMSC) Warns; Shares Dropped 44%

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    Tuesday Apr. 05, 2011 at 06:34 pm EST
    American Superconductor Corp. (NASDAQ:AMSC) Warns; Shares Dropped 44%
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    American Superconductor Corp. (NASDAQ AMSC) announced after market closed Tuesday that Sinovel Wind, its biggest customer has refused to accept contracted shipments. It is strange that 75% of AMSC's revenue came from Sinovel alone.

    Shares of American Superconductor Corp. (NASDAQ AMSC) plunged more than 44% after hours on heavy volume. It may be a golden buying opportunity if Sinovel accepts the shipment soon or if AMSC can find other customers.

    AMSC expects to earn full year revenues of less than $355 million compared with its prior estimate of $430-$440 million.

    American Superconductor Corp. (NASDAQ:AMSC) closed at $24.88 in regular hours today. 52 week high for AMSC was $38.88.

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