Why Enphase Energy Fell 7.2% on Thursday
Shares of solar energy stock Enphase Energy (NASDAQ: ENPH) fell as much as 7.2% in trading on Thursday after the Federal Reserve released minutes from its most recent meeting. Shares gained back some of what they lost as the day went on, but were still down 3.6% for the day.
The Federal Reserve said in minutes from its most recent meeting that it may need to raise rates sooner than expected. As a result, yields rose in the market with the 10-year Treasury rising two basis points today, and yields are now up 29 basis points over the past month.
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Source Fool.com
