JKS - JinkoSolar's U.S. operation raided by federal agents
2023-05-09 12:24:28 ET
JinkoSolar ( NYSE: JKS ) -8.7% in Tuesday's trading after its solar panel manufacturing plant in Jacksonville, Florida, was raided by federal agents yesterday .
Federal authorities did not disclose the reason for the search warrant executed by the U.S. Department of Homeland Security investigative arm.
The city of Jacksonville may delay a city council vote scheduled for Tuesday night on possible tax incentives for expansion of the local JinkoSolar ( JKS ) solar panel manufacturing plant following the raid, according to the Florida Times-Union .
China's JinkoSolar ( JKS ) set up the 400 MW Jacksonville plant in 2018 and employs more than 270 workers, and it is planning on a $52M expansion that would create another 250 full-time jobs.
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- Stock price return: Up 4.5% YTD, down 9% in the past 12 months
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JinkoSolar's U.S. operation raided by federal agents