SolarEdge Technologies Stock Plunges on Customer Bankruptcy
SEDGSolarEdge(SEDG) Investopedia·2024-06-25 23:01

Key Takeaways SolarEdge Technologies said one of its customers has filed for bankruptcy and likely won't be able to pay the 11.4millionitowes.Inaddition,thecompanywarnedthatitexpectsthatitspent11.4 million it owes. In addition, the company warned that it expects that it spent 150 million in free cash in the current quarter. SolarEdge also announced it is selling $300 million in convertible notes. SolarEdge Technologies (SEDG) shares cratered Tuesday, a day after the solar power equipment maker announced that one of its customers has filed for Chapter 7 bankruptcy and likel ...