SolarEdge's stock plummets 14% as company becomes latest poster child for solar industry's problems
SEDGSolarEdge(SEDG) Market Watch·2024-02-21 06:01

Shares of SolarEdge Technologies Inc. dropped more than 14% in the extended session Tuesday after the maker of inverters and other solar-power equipment reported quarterly sales that fell more than 60% and guided for even lower sales, the latest reminder of the ongoing downdraft for the solar industry. Lower demand amid high interest rates and regulatory changes in California, as well as rising inventories, have pummeled solar-power and related industries, and SolarEdge just last month embarked on a cost-cu ...