Hoku secures more financing

Hoku Scientific took another step toward completing the polysilicon plant in Idaho by raising $25 million. That explains today's jump (more than 10%), but issuing stock isn't always good for shareholders in the short term. HOKU, though, is not the normal stock and this is not an old company diluting its share price.

It's a good move, and the string of positive action by management is promising for longs. I picked up some shares near the close (10.20). Not cheap. It was below 9 last week. But today's volume was quite large and the stock, still below its 50-day SMA, is compelling long term.