Why Shares of First Solar Plunged 10.4% Today
Shares of solar manufacturer First Solar (NASDAQ: FSLR) plunged as much as 10.4% in trading Monday as investors feared a falling Chinese yuan would hurt the company. The stock recovered slightly as the day went on and ended 7.6% lower on the day.
There are worries that a trade war between the U.S. and China is going to get worse, but that's not the bad news for First Solar. The company doesn't make products in China and wouldn't see costs go up if tariffs increase.
Image source: First Solar.
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