The Solar Slump

Multiple renewable energy stocks down in premarket trading after substantial cancellations in Europe. [Trade of the Day Wake-Up Watchlist] Attention Readers: Today is the last day to join our Lead Trading Tactician Nate Bear live in the Daily Profits Open House chat room. Don’t miss out on the chance to see Nate trade and ask questions. [Click here to join the Daily Profits Live main chat for FREE today.]( Good morning Wake-up Watchlisters! While you're sipping coffee you’ll see U.S. stocks slipped ahead of the bell on Friday. The drop came after Federal Reserve Chairman Jerome Powell signaled the Fed is committed to its “higher for longer” rates stance. This resulted in treasury yields spiking. The underlying message was "don't expect a bailout from the Fed anytime soon." Despite the recent rocky markets, we’re still making winning trades in [The War Room](. Yesterday our Head Trading Tactician Bryan Bottarelli closed a 16% overnight winner on DFS. [Click here to see how overnight trading could double your money overnight.]( Here’s a look at the top-moving stocks this morning. Enphase Energy (Nasdaq: ENPH) Enphase Energy is down 15.64% premarket after receiving a downgrade from Scotiabank. The solar stock was downgraded to Sector Perform from Sector Outperform with a $140 price target, cut from $180. Scotiabank’s Tristan Richardson cited concerns about the bigger economy and Enphase’s near-term margin profile. SolarEdge Technologies (Nasdaq: SEDG) SolarEdge Technologies is down 26.29% premarket. The company issued a warning saying it encountered “substantial unexpected cancellations and pushouts of existing backlog” from its European distributors. Overall, the demand in Europe has slumped significantly. 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