SolarCity Stock Tanking

by / Oct. 30, 2015 12pm EST

Good lord. 

Today’s newest on SolarCity published by our partners at Investigative Post is nothing less than terrifying. Investigative Post has been the only local news source that has been tracking the series of misdeeds that the rest of Buffalo has ignored in their Buffalo Billion induced stupor, and it feels like today those chickens are coming home to roost. But these aren’t so much chickens as they are their T-Rex ancestors. 

Today’s reading of the financial tea leaves by Jim Heaney reveals a disturbing picture: SolarCity’s stock is tanking precipitiously and a company that was supposed to join them at the RiverBend site, Soraa, has jumped ship for suburban Syracuse. 

In the long history of Buffalo failures, the $750 million dollar site would rank pretty high on the list if this project goes bust. And it has all outward appearances of doing exactly that. When Heaney published his report an hour ago, he listed SolarCity’s stock at $31.15, now it’s at $28.60.

The day before Halloween proceeds to be an unmitigated disaster for Western New York. First First Niagara, and now this.