Why SolarEdge Technologies Shares Crashed Today
Shares of solar and smart energy technology company SolarEdge Technologies (NASDAQ: SEDG) crashed 25% at the market open today after the company reported earnings yesterday evening. The stock remains down 22% as of 10:30 a.m. EST.
The company beat estimates on income, but revenue was down compared to the prior-year quarter, and company guidance called for another report of lower revenue in the fourth quarter.
The results from the high-flying solar stock have prompted at least three analyst price downgrades today.
Source Fool.com
