Why Is Enphase Energy Stock Falling?

Enphase Energy Inc ENPH shares are trading lower by 4.86% to $268.60 Monday afternoon.

Shares of clean energy companies are trading lower ahead of this week's midterm elections. Potential Republican wins in key House and Senate races could change the makeup of Congress and hamper the Biden Administration's clean energy policies.

At the time of publication and per simulations of the election by FiveThirtyEight, simulated 40,000 times to see which party wins the Senate most often, Republicans have a 55% chance of taking control of the U.S. Senate and an 83% chance of taking control of the U.S. House.

According to data from Benzinga Pro, ENPH has a 52-week high of $324.84 and a 52-week low of $113.40.