Tigo Energy, Inc.
|Company Name||Tigo Energy, Inc.|
On August 8, 2023, Tigo issued a press release announcing its financial results for the second quarter of 2023. Therein, Tigo claimed that it had “recently started seeing some demand softening in the channel as supply constraints that defined 2022 began to improve in 2023.” The Company also claimed that it believes the “supply constraints led to some across-the-board over-ordering that the industry is now facing.”
On this news, Tigo’s stock price fell $9.29, or 43.6%, to close at $12.01 per share on August 9, 2023, thereby injuring investors.
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