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Canadian Solar Spirals Downward After Low 2019 Guidance

Alexander Nicoll

Canadian Solar plunged $4.07, or 17.3%, to $19.55 in trading Tuesday on the new guidance company executives put forward that was below forecasts. Canadian Solar expects its profit to be less in 2019 than it was this past year, citing lower module ASP and lower sales from solar projects. This acceleration, however, will result in a reduction in solar project sale revenue and profit in 2019," Canadian Solar CEO Shawn Qu said in a press release.