These 10 Stocks Were Sold Down Today, And Here’s Why

7. First Solar, Inc. (NASDAQ:FSLR)

First Solar, Inc. (NASDAQ:FSLR) dropped its share prices for a third straight day on Monday, shedding 7.59 percent to end at $164.92 apiece following developments in the House of Representatives planning to end solar tax credits by the end of the year.

Late Sunday night, the House Budget Committee approved a measure to eliminate the 30-percent residential solar tax credit by year-end, which forms part of the GOP’s budget reconciliation bill.

The news became a major blow to approximately 300 solar companies, including First Solar, Inc. (NASDAQ:FSLR), as well as customers who continue to claim 30 percent of installation costs as a credit on federal tax bills through 2032.

Despite earning the approval of both the House Ways and Means Committee and the Budget Committee, the bill still needs to be finalized and fully approved by both chambers before the president signs it into law.