Solar Stocks Routed After Enphase Issues Weak Guidance ...Middle East

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Solar Stocks Routed After Enphase Issues Weak Guidance
source : OILPRICE ( Middle East ) () 27
  U.S.-based solar stocks sold off heavily on Wednesday, and only slightly recovered on Thursday after one of the sector’s leading names, Enphase Energy Inc. (NASDAQ:ENPH), delivered a healthy quarterly report but issued weak guidance sparking fears of industrywide weakness. ENPH shares crashed 25.7% on Wednesday to a 10-month low after the company cut its Q2 revenue guidance, blaming it on weakness in its pivotal U.S. market and higher interest rates.  ENPH took down its U.S.-based peers along with it: First Solar (NASDAQ:FSLR)-5.2%,…

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