By Will Feuer
Shares of Sunnova Energy, Maxeon Solar Technologies, Solaredge Technologies and other solar-energy companies fell after Tigo Energy warned that customers are canceling orders and asking to delay deliveries.
Sunnova Energy stock fell almost 7% while shares of Maxeon slipped about 6% and Solaredge stock dropped nearly 5%. SunPower shares also fell about 5% and Sunrun shares traded about 2% lower.
Shares of Tigo Energy lost nearly a quarter of their value by afternoon trading.
Earlier Monday, Tigo Energy Chief Executive Zvi Alon said the recent order pushouts shows customers are working through excess inventory of solar products that have flooded the market. He said there is also a general market slowdown affecting Tigo Energy’s customers.
Write to Will Feuer at [email protected]
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