Why Is SolarEdge (SEDG) Stock Down 17% Today?
SEDGSolarEdge(SEDG) Investor Place·2024-06-25 23:27

SolarEdge (NASDAQ:SEDG) stock is taking a beating on Tuesday after the company announced that one of its customers has filed for bankruptcy. According to a filing with the Securities and Exchange Commission (SEC), SolarEdge customer PM&M Electric, Inc. has filed for Chapter 7 bankruptcy. It owes SolarEdge $11.4 million via a secured promissory note. This has investors in SEDG stock worried about whether the company will ever see that payment. SolarEdge says it will be closely watching the bankruptcy filing ...