Spire Corporation (fka SPIR)

[sigma_x]

Two Forms Filed Recently.

One was a Form 13-G/A, which is an admission that someone own's over 5% of the stock, and I would imagine that was the fund who bought up those 2.5 million shares a few weeks ago. Turns out it was Invesco. (I found it interesting because SPIR doesn't trade 2.5 mln shares in 6 months.)

And then their was a proxy statement form 14-E. To...


1.To fix the number of directors at eight and to elect seven directors to serve for one year, leaving one vacancy.

2.To ratify the selection of Caturano and Company, P.C. as the Company’s independent registered public accountants for the fiscal year ending December 31, 2010.

3.To transact such other business as may properly come before the Meeting.


I can't imagine that any of this would be the cause of the stock going down so hard. As of this writing, every single solar stock I can find is going vertical, and this is down 2% on less than 20K shares traded.

But what I don't get is why? Is has NEVER stayed under FIVE for longer than a few weeks. What the hell is going on?