Our Research

January 5, 2023

It Appears Sunrun Lost its Largest Banker (Credit Suisse) & is Replacing Funding at a ~3% Cost w/ Funding at a ~7% Cost; This is Nothing Short of a Disaster

By Gordon L. Johnson II

Based on Details from Sunrun’s $835M Funding Announced Today, we Believe the Residential Solar Space is Looking at “Big Problems” in 2023E. Today, we learned that RUN closed a $835M funding round, consisting of a…

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January 4, 2023

Has The Market “Really” Priced in the Severity of a Likely 2023E Earnings Recession?

By Gordon L. Johnson II

Metals & Mining Weekly – Focus on Recent Inflation Data as well as What China’s Disorderly Opening Means It Seems the Recently Weaker Inflation Data, While Bullish for Bonds, Could Prove Bearish for Stocks. While…

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January 4, 2023

Did Sunrun Receive an Adverse Outcome Notification Regarding its Ongoing IRS Audit, Implying Material Going Concern Risk?

By Gordon L. Johnson II

Sunrun has Been Under IRS Audit Since 2018, Which is Still Ongoing. By way of background, as per page 32 of RUN’s 3Q22 10-Q filing (Ex. 1), we remind our readers that as of 11/2/22…

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December 14, 2022

Is Biden’s 30% ITC Extension Actually Hurting US Solar Demand According to Top 3 US Distributor

By Gordon L. Johnson II

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December 11, 2022

Americans Are Splurging, Outspending Higher Costs, Pointing to More Inflation Possibly Ahead

By Gordon L. Johnson II

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December 6, 2022

As Fundamentals Disappoint the Mkt’s ’23 Goldilocks Scenario we Expect Fireworks; Downgrade to SELL

By Gordon L. Johnson II

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December 1, 2022

Update on European Solar Market – i.e., German and Netherlands Oct. Installations

By Gordon L. Johnson II

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November 30, 2022

The Coming Tsunami of Poly-Si Supply is Not Priced into Consensus Ests.; ’23 EPS Revision Risk High

By Gordon L. Johnson II

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November 21, 2022

Home Sales Collapse, Investors Vanish, & Listings vs. Price Cuts Surge; is Housing Bubble 2.0 Bursting

By Gordon L. Johnson II

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November 17, 2022

CSI Sep. Dump + 9-12 to 9-22 Chinese Module Exports + Overview of Oct. Netherlands Installs

By Gordon L. Johnson II

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November 13, 2022

Was the Oct CPI Inflation Surprise an “Abnormality” & Will the November Report Disappoint the Bulls?

By Gordon L. Johnson II

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November 10, 2022

Is Resi Solar Demand in the EU Slowing & is Huawei Staging a “Coup” on SEDG’s-ENPH’s EU Share?

By Gordon L. Johnson II

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November 2, 2022

Does the Data Show the Beginnings of “Housing Bust 2” & is the Fed Incentivized to Allow a Collapse?

By Gordon L. Johnson II

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October 25, 2022

The Bond Vigilantes Are Back… Yet Equity Bulls Appear Oblivious to this Clear and Present Risk

By Gordon L. Johnson II

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October 24, 2022

August US PV Imports Provide Bullish Signal & Update on State of Chinese Solar Demand

By Gordon L. Johnson II

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