Wall Street’s 10 Worst Performing Stocks

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1. Enphase Energy, Inc. (NASDAQ:ENPH)

Enphase Energy fell by 14.16 percent on Wednesday to end at $36.48 apiece as investor sentiment was dampened by a weak revenue outlook for the third quarter of the year.

In a statement, Enphase Energy, Inc. (NASDAQ:ENPH) said that it expects revenues for the current quarter to end as low as $330 million or increase to as high as $370 million.

Quarter-on-quarter, this would translate to expectations of either a 9 percent drop or a 1.2-percent increase.

According to Enphase Energy, Inc. (NASDAQ:ENPH) remains a key headwind for the company, but said that it was exploring steps to diversify its supply chain and reduce reliance on Chinese components, where tariffs are steep.

In the second quarter of the year, Enphase Energy, Inc. (NASDAQ:ENPH) achieved a 242-percent jump in net income at $37 million versus the $10.8 million in the same period last year.

Revenues were also higher by 19.8 percent to $363 million from $303 million year-on-year.

While we acknowledge the potential of ENPH to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than ENPH and that has 100x upside potential, check out our report about this cheapest AI stock.

READ NEXT: 20 Best AI Stocks To Buy Now and 30 Best Stocks to Buy Now According to Billionaires.

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