Why Vivint Solar Inc.'s Shares Plunged 16% Today
Shares of residential solar installer Vivint Solar Inc. (NYSE: VSLR) dropped as much as 15.6% today as investors began to realize that the company's future could get a lot dimmer if President Trump imposes tariffs on solar module imports. At 2:40 p.m. EDT, shares were still down 12.3% and the negative sentiment around all solar stocks was driving the whole industry down.
On Friday, the International Trade Commission ruled in a Section 201 trade case that bankrupt solar manufacturers Suniva and SolarWorld were "injured" by solar imports. In the next couple of months, the commission will make a recommendation to the president as to what remedies should be put in place to protect the U.S. solar manufacturing industry.
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Source: Fool.com