Shares of Canadian Solar Inc. (NASDAQ: CSIQ) saw a
huge rally in trading on Tuesday after the Canada-based company entered into a
sales agreement with TransCanada Corporation (NYSE: TRP) under which
TransCanada will acquire a 86MW AC solar project portfolio for approximately
C$470 million.
Canadian Solar shares rose to an intra-day high of
$3.13. The stock closed more than 33% higher on Tuesday. The rally pushed
Canadian Solar shares above their 50-day moving average.
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