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Why Enphase Energy Stock Was Sputtering This Week
The past few trading days haven't been kind to solar energy stocks, and Enphase Energy (NASDAQ: ENPH) has been caught in the rout.Developments in the legislative sphere kicked off the downturn, which was compounded in Enphase's case by several downbeat analyst notes. As of late Thursday, the company's share price was down more than 20% week to date, according to data compiled by S&P Global Market Intelligence. Enphase stock took a serious hit on Tuesday when the Senate Finance Committee floated the idea of more aggressive cuts to the tax credits currently in place for implementing green energy solutions. These would be made in order to get President Trump's pet Big, Beautiful Bill passed in that chamber. Specifically, the committee recommended phasing the credits out completely by 2028, instead of the current deadline of 2032. Continue reading
The past few trading days haven't been kind to solar energy stocks, and Enphase Energy (NASDAQ: ENPH) has been caught in the rout.
Developments in the legislative sphere kicked off the downturn, which was compounded in Enphase's case by several downbeat analyst notes. As of late Thursday, the company's share price was down more than 20% week to date, according to data compiled by S&P Global Market Intelligence.
Enphase stock took a serious hit on Tuesday when the Senate Finance Committee floated the idea of more aggressive cuts to the tax credits currently in place for implementing green energy solutions. These would be made in order to get President Trump's pet Big, Beautiful Bill passed in that chamber. Specifically, the committee recommended phasing the credits out completely by 2028, instead of the current deadline of 2032.
