First Solar Shares Are Surging

First Solar shares are up 7.6% this morning for no obvious reason.

Bloomberg's Julie Hyman noted the stock has the 13th largest short interest as a percentage of float in the S&P 500. In other words, there are a lot of people betting against the company.

On Thursday, the company announced it was building a 250-megawatt solar farm in Riverside, Calif. for power plant developer NextEra.

First Solar has climbed more than 56% YTD and 110% over the past 12 months.