Why Daqo New Energy Shares Are Trading Lower

Daqo New Energy Corp DQ shares are trading lower by 3% at $56.30 on reports the U.S. is blocking imports of polysilicon, a key solar material, made in the Xinjiang region, which has weighed on Chinese solar names.

Daqo New Energy Corp is a polysilicon manufacturer based in China. The company is engaged in the manufacturing and selling of high-purity polysilicon to photovoltaic product manufacturers who processed polysilicon into ingots, cells and modules for solar power solutions. It offers ready-to-use polysilicon, packaged to meet crucible stacking, pulling and solidification needs. All of its revenues gets derived from the People's Republic of China.

Daqo New Energy Corp has a 52-week high of $130.33 and a 52-week low of $13.40.