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Why Canadian Solar Plummeted Today

TheMotleyFool

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Shares of solar module manufacturer and project developer Canadian Solar (NASDAQ: CSIQ) plunged 18% on Thursday as of 2:05 p.m. ET.

Canadian Solar faced a double whammy today. Not only did President Donald Trump make comments on social media that eviscerated the entire Solar sector, but Canadian Solar also delivered an underwhelming Q2 earnings report.

In the second quarter, Canadian Solar's revenue grew just 3.9%, with an adjusted (non-GAAP) net loss per share of $0.53. While both figures improved relative to the prior-year quarter, they handily missed analyst estimates.

Source Fool.com