Enphase Energy posts record quarter, but stock slides as management warns of chip shortage pains
Shares of Enphase Energy dropped more than 14% on Wednesday after the company warned about the ongoing impacts of the chip shortage.
The company — which makes microinverters for solar systems — reported on Tuesday first-quarter earnings and revenue that beat analyst estimates. Enphase also posted record sales numbers. But weak second-quarter guidance sent the stock tumbling.
Read more...