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Why FTC Solar Plunged 35.7% on Tuesday

TheMotleyFool

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Shares of FTC Solar (NASDAQ: FTCI) fell as much as 35.7% in early trading on Tuesday after reporting first-quarter 2021 financial results. Shares did bounce back and closed the day down just 12.8%, but that's still a rough performance for the stock.

FTC Solar reported $49.6 million in revenue for the quarter, which was down from $65.7 million a year ago. Net loss also jumped from $7.4 million to $27.8 million, or $0.28 per share.

Image source: Getty Images.

Source Fool.com

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