Akeena stock soars nearly 54 percent

AP News
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Posted: Dec 10, 2009 2:29 PM

Akeena Solar, Inc. stock jumped nearly 54 percent Thursday after the company announced that Lowe's is now stocking its solar panels in California.

Akeena stock added 53 cents to $1.52 a share in afternoon trading. Company stock has traded between 58 cents and $2.61 a share during the past year.

The company, which has headquarters in Los Gatos, Calif., develops a user-friendly solar panel that Lowe's agreed to carry on store shelves. The home improvement retailer said it would stock Akeena products in 21 California stores this week, followed by other states and Canada next year.

The deal could bring Akeena's panels to a large audience of do-it-yourselfers.