So today it's going to be bloody in the solar sector. 🤔
Yesterday after the market closed came huge drops in two, (maybe others but I don't follow those), big companies like $ENPH and $SEDG.
I personally am invested in $ENPH and am not that surprised by the overall drop, but then I wasn't expecting that much. Hopefully I'll be able to find out more info during the day at work, so far I've only read cursorily that they were downgraded because their Q3 reports are expected to be very bad. 🤔
Anyone also invested or will you be possibly entering a position? And I'd love to read your thoughts on the company and especially the situation around the sector 😊.
I entered at $115 - not a very high amount as I expected to see at least $110 due to rates. So I guess it will be even less. 25 times earnings is absolutely beautiful for me in this segment. I'm scared of those earnings, but I'll sit tight completely and hopefully it will show in a few years.
I also looked into it and found a report of a downgrade, as analysts expect ENPH to see a drop in earnings. Another factor then may be the uncertainty about the future in Europe, SolarEdge Technologies has said that many customers in Europe are stopping buying altogether and quite a few (unknown figure) have cancelled their orders.