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Daqo New Energy Corp (DQ) is a Chinese supplier of silicon and polysilicon for photovoltaic systems. The company had outstanding Q3 earnings for 2021 and is capitalizing on the global push to have a more renewable energy portfolio. Additionally with the coal shortage in China, there is increasing sentiment to push for a more reliable source of energy. Also the high barriers to entry for this industry will help keep Daqo in a significant share of the market.
Closing position with $136,000 in realized gains; close to its peak price of 6 months and we have no reason it should continue to climb
As DAQQ continues to climb rapidly, we believe that there's no reason for it to cease it's rapid stock climb - especially with continued increase rapid financial capabilites and growth as evident by its earnings call which returned a lot higher than predicted. Furthermore, they are part of the energy sector which has had the fastest growth since the post COVID pandemic as people are shifting away from nonrenewable energy.
DQ is a company that produces monocrystalline silicon and polysilicon, primarily for use in solar photovoltaic systems. This is in line with China's recent focus on new energy and the goal of achieving carbon neutral by 2030.