NEP - Why Solar Energy Stocks Got Rocked Again on Thursday
Shares of stocks in the solar industry took a nosedive once again on Thursday as the broader market continued to fall. Solar manufacturers SolarEdge Technologies (NASDAQ: SEDG) dropped as much as 21.5%, SunPower (NASDAQ: SPWR), fell up to 22%, and First Solar (NASDAQ: FSLR) plunged 11.4%. At 1:45 p.m. EDT, shares had recovered some and were down 11.5%, 16.3%, and 2.8% respectively.
Solar stocks falling is one thing, but it may be more concerning that yieldcos and renewable developers like TerraForm Power (NASDAQ: TERP) lost 17.1% early today, NextEra Energy Partners (NYSE: NEP) dropped 20%, and Hannon Armstrong (NYSE: HASI) plunged 19.4% early. Shares of the companies were down 10.7%, 12.5%, and 14.4%, respectively, at 1:45 p.m. EDT.
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