What Friday's Plunges in SolarEdge, Enphase Say About Growth Stocks
The stock market looked poised to move lower yet again on Friday, building on losses from earlier in the week. Investors have had to endure constant and building concerns about interest rates and the bond market, which have started to have an impact on corporate profits. stock index futures were down as much as half a percent early Friday before the market opened.
The latest steep declines in the stock market came from the solar energy field. SolarEdge Technologies (NASDAQ: SEDG) saw the biggest losses in the group, but peers like Enphase Energy (NASDAQ: ENPH) and Sunrun also suffered significant losses. Here's more on what's happening in the solar field and why investors in growth stocks across the market need to be worried.
Shares of SolarEdge Technologies plunged 29% in premarket trading early Friday morning. The self-proclaimed leader in smart energy technology announced preliminary financial results for the third quarter late Thursday afternoon, and investors were shocked at the extent of the slowdown that they saw.
Source Fool.com
