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The Worst 5 IPOs of 2012

One new offering was off by a grueling 81% this year


4. Enphase Energy

YTD Return: -52%
Date of IPO: 03/29/12

Enphase Energy (NASDAQ:ENPH) develops so-called microinverter technology that helps solar companies increase energy production, improve design and allow for cost-effective installations. It is a breakthrough technology that is trying to replace the traditional approach, known as inverters. These have been around for about two decades.

Unfortunately, the solar industry has been horrible for investors in 2012. With government cutbacks in the U.S. and Europe, the industry is facing much slower growth.

Despite this dour environment, Enphase continues to post solid results. In the third quarter, the company announced revenues of $60.8 million, up 36% on a year-over-year basis.

But investors don’t seem to care. Enphase’s stock has seen a fairly steady, grinding loss of value since its IPO.

Article printed from InvestorPlace Media,

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