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First Solar's stock plunges as CEO warns U.S. tariffs will challenge overseas manufacturing.
First Solar's stock dropped over 7.5% after CEO Mark Widmar warned that new U.S. tariffs pose significant challenges to the company's manufacturing facilities in India, Malaysia, and Vietnam.
The tariffs have led to a revision of the company's annual sales and profit forecasts, with net sales now expected between $4.5 billion and $5.5 billion.
Despite near-term difficulties, First Solar remains optimistic about long-term U.S. solar demand, emphasizing its domestic manufacturing and technology strengths.
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