Why ReneSola Stock Dropped 14.5% This Week
Shares of ReneSola (NYSE: SOL) had a rough week this week, falling 14.5% as of 1:00 p.m. ET, according to data provided by S&P Global Market Intelligence. The company didn't report any major news, but there was one big driver of solar energy stocks selling off this week.
The biggest news this week is rising interest rates. According to the U.S. Department of the Treasury, the 10-year Treasury rate increased from 1.46% on Nov. 9 to as high at 1.63% on Nov. 16. Rates closed at 1.59% on Thursday evening, but the trend higher is noticeable.
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Source Fool.com
