Shares of Enphase Energy Inc (NASDAQ:ENPH) are trading lower. Weakness in the stock may be related to a pullback in oil prices, which could lower demand for alternative energy names. Solar and alternative energy stocks previously surged amid the start of the Russia-Ukraine conflict due to high oil prices and calls for energy independence.
The weakness also comes amid a dip in the overall market in anticipation of expected Fed rate hikes this year as the Fed seeks to curb inflation.
