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Shares of Sunnova Energy International cratered Monday after the company issued a warning about its ability to keep operating, given the company’s cash constraints.
The stock plunged 64% to 60 cents after the rooftop solar company said its unrestricted cash, cash flows from operating activities, and commitments under existing financing agreements were “not sufficient to meet obligations and fund operations.” It issued what is known as a “going concern” warning, which raises doubts about a company’s ability to stay in business.
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