Why Enphase Energy Stock Was Down Over 2% Today
Shares of Enphase Energy (NASDAQ: ENPH) were down 2.7% today as of 11:45 a.m. ET. The stock market overall was thrown into another tizzy after social media company Snap (NYSE: SNAP) warned that it would grow below its previously stated year-over-year revenue growth guidance of 20% to 25% -- citing a myriad of macroeconomic and geopolitical challenges. The S&P 500 was down 2.1%, and the Nasdaq Composite was down 3.3%.
Image source: Getty Images.
A solar energy company has little to do with a social media outfit that makes most of its money from ads, but it nonetheless illustrates the fragile state the market is in. Any hint of an economic slowdown -- or worse, a recession -- is being greeted with investor panic.
Source Fool.com
