Enphase Energy faces challenges with stock plunge and weakened product demand

Enphase Energy, Inc. reported disappointing financial results for Q3 2023, with revenue missing expectations and a weak outlook for the current quarter. This led to a significant drop in the company's stock price, reaching its lowest level since October 2020. Oppenheimer analyst Colin Rusch downgraded Enphase's stock, citing industry uncertainty and the company's lower revenue forecast for Q4. Overall, Enphase's performance and guidance have negatively impacted investor sentiment, resulting in a decline in the stock price.

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