Solar stocks tumble to 3-year low as Solaredge drops nearly 30% on demand warning
Publishing timestamp: 2023-10-20 12:32:43
Summary
Solar stocks, including Solaredge, tumbled after the company warned of weakened demand in Europe. The pessimistic outlook and lower-than-expected revenue projections caused a decline in solar sector stocks. The Invesco Solar ETF (TAN) also experienced a significant drop. The weak demand environment in Europe raises concerns for Solaredge's future performance, leading to a downgrade by Goldman Sachs.
Sentiment: NEGATIVE
Tickers: SEDG, ENPH, TAN, RUN, NOVA,
Keywords: enphase energy inc, business, energy, breaking news: investing, guggenheim solar etf, earnings, stock markets, solaredge technologies inc, business news, wall street, markets, sunnova energy international inc, sunrun inc, breaking news: markets, environment,