Enphase (ENPH) Stock Down Signficantly After Jim Cramer Advised Selling It

Enphase Energy, Inc. (NASDAQ:ENPH) is one of the 20 Stocks Jim Cramer Wanted You To Sell & Immediately Get Out Of.

Enphase Energy, Inc. (NASDAQ:ENPH) is a solar power technology company that manufactures products such as microinverters. Its shares are down by 36% over the past year and by 7.4% year-to-date. Since Cramer discussed the firm on April 2nd, the shares are down by 43%. Regulatory developments in the renewable energy sector appear to be responsible for some of the weakness. For instance, Enphase Energy, Inc. (NASDAQ:ENPH)’s stock closed 24% lower on June 17th, a day after a draft bill for the US Senate on the 16th suggested that a full phase-out of solar and wind energy credits would be in play by 2028. Then, the shares closed 14% lower on July 23rd. On the 22nd, Enphase Energy, Inc. (NASDAQ:ENPH) had reported its earnings for the second quarter and guided third-quarter revenue to range between $330 million and $370 million. The midpoint of the guidance fell below analyst estimates. Here is what Cramer had said about the firm on April 2nd:

“No. Sell out and buy Capital One. There will be no good news in Enphase because you know why? It’s not a company that the president wants to see do well. It means nothing to him, nothing.”

Enphase (ENPH) Stock Down Signficantly After Jim Cramer Advised Selling It

While we acknowledge the risk and potential of ENPH as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than ENPH and that has 10,000% upside potential, check out our report about this cheapest AI stock.

READ NEXT: 33 Stocks That Should Double in 3 Years and Cathie Wood 2026 Portfolio: 10 Best Stocks to Buy. 

Disclosure: None. Follow Insider Monkey on Google News.