Why Renewable Energy Stocks Fell Sharply in June

June wasn’t kind to the renewable energy industry, as investors were wary of how risky some of the industry’s smaller companies could be. The bankruptcy of electric vehicle (EV) stock Fisker meant that other renewable energy companies could eventually go under, too.

According to data provided by S&P Global Market Intelligence, SunPower Company (NASDAQ: SPWR) The company’s shares fell 11.4% in June and continued to fall in July, losing 29.7% in its first week of trading. Flashing charging (NASDAQ:BLNK) fell by 11.9% last month, and Bloom’s Energy (NYSE:BE) dropped by 25%.

2024 Was All Bad News for SunPower, The Company Needed a Bailout from Its Majority Owner Total Energies and stated that it would be necessary to re-submit financial statements in two years.

Source Fool.com