2024-05-04 16:03:00 ET
Enphase Energy (NASDAQ: ENPH) remains under pressure and bogged down by an industrywide slowdown in the solar market. After a 50% decline in 2023, the stock is down over 18% in 2024, which is a particularly bad look relative to a strong performance in the S&P 500 .
The same factors that made Enphase a Wall Street darling have turned against the company, showcasing the dangers of investing in cyclical stocks .
Here's why the narrative is negative on Enphase, and what the company needs to do to turn things around.
For further details see:
Enphase Just Reported Its Lowest Quarterly Revenue in Over 3 Years. Is The Growth Story Officially Over?