Enphase Energy, Inc.Short
ENPH has a revenue problem
Earnings today were deemed by wall street as "good enough".
That may be true, and the stock may be up today, but Revenue dropped 58% to $302.6 million, from $724.6 million a year ago.
--> Since revenue has started declining, the stock is down.
Market estimates expect a decline in revenue in 2024 vs 2023, so unless the correlation changes, or unless the company announces expected increases in revenue, this is one I'd avoid.
That may be true, and the stock may be up today, but Revenue dropped 58% to $302.6 million, from $724.6 million a year ago.
--> Since revenue has started declining, the stock is down.
Market estimates expect a decline in revenue in 2024 vs 2023, so unless the correlation changes, or unless the company announces expected increases in revenue, this is one I'd avoid.
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