The Biggest Mistake Investors Are Making on Enphase Stock Right Now
With its stock down over 70% year-to-date, there's no sugarcoating the massive disappointment that Enphase Energy (NASDAQ: ENPH) has been in 2023. And there's a good argument that at least some of it is justified. Not only did Enphase's Q3 results come in on the low end of its estimates, but its revenue is projected to be between $300 million and $350 million in Q4. At the midpoint, that's 55.2% lower than Q4 2022.
For a stock whose valuation is based on its sales growth, this sharp of a drop in such a short period of time is going to have a lot of investors running for the exits.
But before you take action on Enphase stock, it's important to understand the impact that management's high-price, high-volume strategy is having on the solar company's near-term results.
Source Fool.com
