JinkoSolar Shares Plunge 11.24% on $64.9M Q4 Loss

JinkoSolar Holding Co. (JKS) shares plummeted 11.24% today, marking the lowest level since May 2020, with an intraday decline of 12.04%.

JinkoSolar Holding Co. reported a significant loss of $64.9 million in its fourth quarter. This financial setback likely contributed to the negative sentiment surrounding the company's stock, leading to a sharp decline in its share price. The substantial loss raised concerns among investors about the company's financial health and future prospects, prompting many to sell their holdings.

In March, JinkoSolar experienced a notable decrease in short interest as of March 15th. This shift in short interest could have influenced the stock price by altering traders' perceptions and strategies. A decrease in short interest often indicates that fewer investors are betting against the stock, which can lead to a reduction in selling pressure and potentially stabilize or even boost the stock price. However, in this case, the overall market sentiment and other factors may have outweighed this positive signal, contributing to the stock's decline.

Additionally, JinkoSolar Holding was identified as one of the components with the weakest performance in an ETF on a recent Tuesday. This poor relative performance compared to other stocks within the ETF further highlighted the company's struggles and may have deterred investors from holding or buying its shares, exacerbating the downward trend in its stock price.