Why TPI Composites Stock Crashed 20% This Morning
Shares of TPI Composites (NASDAQ: TPIC), a manufacturer of blades for windmills, peaked above $78 earlier this month, delivering an astounding eightfold return from their early pandemic lows last year as investors bet on a Green New Deal from the Biden administration.
Yesterday, however, TPI reported its actual earnings for last year, and today its stock is spinning in reverse, down 20% as of 10 a.m. EST.
Image source: Getty Images.
Source Fool.com
