Why JinkoSolar Stock Is Moving
Portfolio Pulse from Henry Khederian
Shares of JinkoSolar Holding Co., Ltd (NASDAQ:JKS) are trading lower by 3.1% due to slower-than-expected August service sector activity growth in China, as reported by Caixin Services PMI data. This could lead to delays in commercial and industrial solar installations, which JinkoSolar supplies. If businesses postpone or scale back their solar projects due to economic uncertainty, it can directly affect JinkoSolar's revenue and earnings.
September 05, 2023 | 7:43 pm
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JinkoSolar's stock is trading lower due to slower service sector growth in China, which could lead to delays in solar installations, affecting the company's revenue and earnings.
The slower-than-expected service sector growth in China could lead to delays in commercial and industrial solar installations, which JinkoSolar supplies. If businesses postpone or scale back their solar projects due to this economic uncertainty, it can directly affect JinkoSolar's revenue and earnings, leading to a decrease in its stock price.
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