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Why ReneSola's Shares Plunged 36% on Wednesday

TheMotleyFool 
0 0 02.12.20
Why ReneSola's Shares Plunged 36% on Wednesday
 

Shares of solar project developer and operator ReneSola (NYSE: SOL) fell as much as 36% in trading Wednesday after the company reported third-quarter 2020 financial results. The stock recovered some early losses but was still down 18.3% at 10:20 a.m. EDT. 

Revenue fell a whopping 85% versus a year ago to $9.7 million, but that was largely due to project timing. Net income for the quarter was $2.1 million, down from $2.4 million a year ago. 

Image source: Getty Images.

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Source Fool.com

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