Enphase $ENPH is down 90% from its ATH

Several causes

✔️ Shrinking margin

✔️ Growth went from 100% a year to -40%

✔️ Valuation was absurd with a PE above 100x

✔️ Potential phasing out of solar and wind energy tax credits by 2028

The equipment business is inherently cyclical, and this particular cycle has been especially challenging for the company

However, both the business environment and the company's valuation have now become more reasonable

Could this be a good time to buy? What’s your take?