VSLR - Why Solar Stocks Plunged Over 10% Wednesday
Shares of solar stocks took a hard hit Wednesday, as the markets plunged and investors fled from renewable energy stocks.
Vivint Solar (NYSE: VSLR) fell 14% at close, SolarEdge Technologies (NASDAQ: SEDG) ended down 9.3% after trading down 13% earlier in the day, First Solar (NASDAQ: FSLR) was down 9.4%, Sunrun (NASDAQ: RUN) dropped 10%, and SunPower (NASDAQ: SPWR) fell 9.4% after trading down 10.4% shortly before close.
There's no question that the market's drop affected solar stocks disproportionately because they're higher volatility than the market overall. Solar stocks will often trade short term with their oil and gas rivals, but long term that's not what's going to drive solar stocks.