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Why Azure Power Stock Got Pummeled on Tuesday

Eric Volkman, The Motley Fool
·2-min read

Azure Power Global (NYSE: AZRE) had an awful Tuesday on the exchange, even by the standards of a generally declining market. The India-based renewable energy specialist saw its shares lose more than 26% of their value on the day, as it continued to feel the impact of a top-level executive resignation plus a whistleblower complaint and was socked by an analyst recommendation downgrade. A day after Azure announced the unexpected departure of CEO Harsh Shah and that whistleblower complaint (which dates from May), not to mention the fact that the renewable energy company will be late in filing its annual report, one prognosticator wasted little time changing his view on its prospects.

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