What Happened?
Shares of solar tracking systems manufacturer Array (NASDAQ: ARRY) fell 6.8% in the afternoon session after President Donald Trump announced his administration would not approve new solar or wind power projects, causing a sell-off in the renewable energy sector. The move came after President Donald Trump posted on his social media platform, Truth Social, that "We will not approve wind or farmer destroying Solar," adding, "The days of stupidity are over in the USA!!!" This statement escalated his campaign against renewable energy development. The remarks prompted a sector-wide sell-off, pressuring solar and wind stocks broadly. Other renewable energy companies also saw their shares plummet following the announcement, reflecting investor concern over the future of green energy projects under his administration.
The stock market overreacts to news, and big price drops can present good opportunities to buy high-quality stocks. Is now the time to buy Array? Access our full analysis report here, it’s free.
What Is The Market Telling Us
Array’s shares are extremely volatile and have had 76 moves greater than 5% over the last year. In that context, today’s move indicates the market considers this news meaningful but not something that would fundamentally change its perception of the business.
The previous big move we wrote about was 3 days ago when the stock gained 10.8% on the news that investors reacted positively to favorable changes in clean energy tax credit guidance from the U.S. Treasury, which is expected to benefit solar tracker manufacturers. The move comes as positive sentiment lifts the entire solar tracker sector after the IRS released updated safe-harbor rules for clean energy tax credits. An analyst at Guggenheim noted the rule changes are beneficial for tracker suppliers, prompting an upgrade for competitor Nextracker and fueling optimism for Array. This industry-wide catalyst builds on Array's recent positive momentum, including a strong second-quarter earnings report that surpassed expectations and led the company to raise its full-year guidance for revenue and earnings. Furthermore, Array recently completed the strategic acquisition of APA Solar, a move expected to be accretive to earnings and create new commercial synergies.
Array is up 24.8% since the beginning of the year, and at $8.41 per share, it is trading close to its 52-week high of $8.93 from August 2025. Investors who bought $1,000 worth of Array’s shares at the IPO in October 2020 would now be looking at an investment worth $230.73.
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