Solar Leader Drops 30% from Peak... Market Cap Shrinks Over 1 Trillion Won in a Day

Nextpower Inc. (NASDAQ: NXT) closed at $108.85 on July 7, down 5.37%, cutting its market capitalization to about $16.5 billion (roughly KRW 22 trillion). In a single day, the company lost approximately $840 million (around KRW 1.1 trillion). Compared with its 52-week high of about $163 reached in late May, the stock is roughly 30% lower, entering a correction phase driven by overvaluation concerns and profit-taking since June.

In mid-May, Nextpower reported fiscal 2026 results showing annual revenue of $3.56 billion (about KRW 4.7 trillion), a 20% year-over-year increase, and raised its guidance for fiscal 2027—moves that briefly lifted the share price by nearly 15%. More recently, the company agreed to acquire battery-storage integrator Privelon for up to $365 million (approximately KRW 470 billion), broadening its offerings in energy storage and power solutions. Nextpower also appointed Robert Binney as Chief Operating Officer and will release its fiscal 2026 fourth-quarter results on July 28, making future order flow and growth in storage and power-conversion businesses key drivers of the stock’s direction.

Originally founded in 2014 as solar-tracker maker Nextracker and rebranded as Nextpower in November 2025, the company is a U.S. renewable-energy equipment leader in large-scale solar trackers and control software. Headquartered in Fremont, California, founder and CEO Dan Shugar has spearheaded an integrated energy-technology platform strategy—spanning structural engineering, power electronics, and digital systems—and is expanding the business from solar tracking into power conversion and energy storage solutions.