Why FTC Solar's Stock Dropped 12.4% on Wednesday
Shares of solar energy stock FTC Solar (NASDAQ: FTCI) fell as much as 21.1% in trading on Wednesday after reporting third-quarter 2021 financial results. Shares recovered slightly late in the day and closed down 12.4%.
Revenue fell 11.2% to $53.0 million, and net loss was up nearly 10 times to $22.9 million, or $0.24 per share. Analysts were expecting $59.0 million in revenue and a loss of $0.19 per share.
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Source Fool.com
