Holy Hoku, Batman!

Holy Hoku, Batman!That's not a mistake you see above -- Hoku Scientific is really up more than 75% in the last month. In fact, over just more than two months it's up more than 170%. So what gives?
It's certainly not the company's financial performance through the fiscal year completed in March. For the year, Hoku lost $2.7 million on revenue of $5.4 million, after making $1.3 million on $5.5 million in revenue in the prior year. Additionally, on the 24th, the company is announcing results for the first quarter of its 2008 fiscal year and is expected to lose $0.06 per share for the quarter.
It's the magic word "solar" that's had Hoku jumping. Though the company was founded in 2001 primarily focused on fuel-cell technologies, it announced in 2006 that it would enter the solar module and polysilicon business. Though it decided not to pursue building solar modules, it will still install third-party solar modules and is plowing full steam ahead with its plans to produce polysilicon.
The latter business is what has really been juicing Hoku's stock. Though the company doesn't expect to have polysilicon available until the first half of 2009, it has been busy signing up customers. In June alone, Hoku scored supply contracts with Suntech Power and Solar-Fabrik worth up to $678 million and $185 million, respectively.
The contracts haven't convinced CAPS players, who have been negative on the stock since it first got its rating on CAPS. billydakid, one of the top players on CAPS, gave Hoku the big red thumb and said, "This company is a scam. Numerous warnings from various sources showing inconsistencies in their financials. Lots of marketing little revenue ... creates artificial demand."
So do you think solar power is going to give Hoku a bright future? Or is the company really all hype with little substance? Head on over to CAPS and let the community know what you think. While you're there, you can start your research on any of the other stocks listed above -- or any of the 4,700-plus stocks on CAPS.