Sunnova CEO tries to reassure rattled investors after stock plunged 26% in worst day since March 2020
Publishing timestamp: 2024-02-23 09:05:26
Summary
Sunnova shares plummeted after announcing a $100 million stock offering program, causing investor confidence to drop. CEO reassured investors that the company does not plan to raise capital through this program anytime soon. The company's market cap declined by $382 million, and it posted a net loss of $234 million in the fourth quarter. The solar market faces uncertainty this year, with interest rate cuts not expected to act as a catalyst for the sector. Sunnova is also facing scrutiny for alleged predatory sales tactics against elderly consumers in Texas.
Sentiment: NEGATIVE
Keywords: markets, business news, climate, sunrun inc, sunnova energy international inc, solaredge technologies inc, solar power, breaking news: markets, energy, alternative and sustainable energy,