Our old friend, American Superconductor (AMSC) broke out of a double top formation today (a break over $36) and immediately shot up $2 to mid September highs around $38.
Ironically, I just read about the name in a New York Times article yesterday dealing with some plans for the US grid (Tres Amigos Aims to Spread Renewable Energy to the Coasts)...
It is sort of bemusing to watch many of the same stocks that were breaking out on (a) hopes for Obama election and then (b) hopes for Obama's infrastructure stimulus in spring 2009 - are doing it again. Rinse. Wash. Repeat.
AMSC is a leading energy technologies company offering an array of solutions based on two proprietary technologies: programmable power electronic converters and high temperature superconductor (HTS) wires. The company's products, services and system-level solutions enable cleaner, more efficient and more reliable generation, delivery and use of electric power. AMSC is a leader in alternative energy, offering grid interconnection solutions as well as licensed wind energy designs and electrical systems.