Why Enphase Energy Stock Dropped 8.7% on Wednesday

Shares of solar microinverter company Enphase Energy (NASDAQ: ENPH) fell as much as 9.7% today as the solar industry overall cratered. Shares closed the day down 8.7%. 

There wasn't significant news out about Enphase or any major solar energy company today, which makes the move a little mysterious. The company will announce earnings on Tuesday, April 26, 2022 after the market closes, and investors may be positioning themselves ahead of earnings. 

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Source Fool.com