Why Enphase Energy's Shares Jumped 26.9% in July
Shares of Enphase Energy (NASDAQ: ENPH) jumped 26.9% in July, according to data from S&P Global Market Intelligence, after announcing some key business developments. In addition, early in August the company reported second-quarter 2020 earnings.
The biggest announcement in July was SunPower's (NASDAQ: SPWR) spinoff of Maxeon Technologies, saying it will produce AC solar modules by integrating Enphase Energy's IQ microinverter at the factory level. That will lower costs for AC solar panels and should reduce installation costs in the field as well. For Enphase, being integrated at the factory floor is a big win, given the high quality of Maxeon's solar panels.
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