Why Solar Energy Stocks Dropped This Week
Shares of solar energy stocks have been cratering this week in the wake of several first-quarter earnings releases and the Federal Reserve's latest interest rate hike. However, the solar industry continues to grow, so there are competing forces at work here.
According to data provided by S&P Global Market Intelligence, as of 10 a.m. ET, shares of SunPower (NASDAQ: SPWR) had dropped by 16.6% since the market closed on Friday, (NASDAQ: RUN) was down 22.6%, Sunnova Energy (NYSE: NOVA) has dropped 16.9%, and Array Technologies (NASDAQ: ARRY) was down 11.5%. It doesn't seem that any part of the solar value chain was spared in the sell-off.
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Source Fool.com
