Get 40% Off
🚀 AI-picked stocks soar in May. PRFT is +55%—in just 16 days! Don’t miss June’s top picks.Unlock full list

FTC Solar shares plunge 34% amid management shake-up and Q3 net loss

Published 09/11/2023, 07:46 am
© Reuters.
FTCI
-

Shares of FTC Solar (NASDAQ: FTCS) took a nosedive today, plummeting 34% on the back of a sudden Q3 net loss and an imminent management reshuffle. The company announced that both its CEO and CFO would be stepping down in December 2023, triggering a sharp fall in the stock's value.

The unexpected financial setback and leadership changes have prompted Berman Tabacco, a law firm experienced in handling securities and antitrust cases since 1982, to launch an investigation into FTC Solar. The firm is currently seeking public support to aid its inquiry into potential securities law violations by the solar tracker systems provider.

Today's drop in stock value marks a significant turn for FTC Solar, which had its initial public offering on the Nasdaq on April 28, 2021. The shares are currently trading at $0.357.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.