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

5. Sunrun Inc. (NASDAQ:RUN)

Sunrun dropped for a second day on Monday, losing 7.84 percent to close at $11.29 apiece as investor sentiment was dampened by the possibility of solar tax credits ending 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 was a major blow to Sunrun Inc. (NASDAQ:RUN), as well as hundreds of other solar companies in the US, which have already been battered by a lukewarm reception from President Donald Trump.

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.

In the first quarter of the year, Sunrun Inc. (NASDAQ:RUN) swung to a net income attributable to shareholders of $50 million from an $87.8-million net loss in the same period last year.

Revenues increased by 10 percent to $504 million from $458 million year-on-year.