Sunnova Energy Plunges After Issuing Going Concern Warning
Sunnova’s fortunes have withered as high interest rates and lower state incentives have made it more expensive for consumers to buy its home solar equipment.
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Shares of Sunnova Energy International Inc. plunged as much as 71% after the struggling solar company warned there’s substantial doubt it will remain in business.
The company said Monday that it doesn’t have enough cash coming in to meet its obligations and is suspending guidance.