Hoku Scientific (HOKU) Soars As Solarfun (SOLF) Finally Pays Up

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10:54:17 am on December 8, 2009

I’ll keep this post short because the details are well.. detailed and aren’t worth repeating here.  You can get all the financial details in a post here.  In a nutshell, Solarfun (SOLF) owed Hoku Scientific (HOKU) millions in payments for supplying them with solar modules that they were behind on and put their agreement in jeopardy.  It’s being announced this morning that Solarfun just paid $8 of the $13 million owed and will being paying off the rest in increments over the next several months.

Shares of HOKU are up 17% this morning and surging back above important resistance of the 50 and 200 day moving averages.

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