Why SolarEdge Stock Soared 24% This Morning
SolarEdge Technologies (NASDAQ: SEDG) stock roared ahead 24.2% through 9:50 a.m. ET Wednesday despite the company reporting highly "mixed" earnings this morning.
Analysts forecast $189.2 million in fourth-quarter 2024 revenue for the solar equipment maker, but SolarEdge actually reported revenue of $196.2 million. That's the good news. The bad news is that Wall Street expected SolarEdge to lose $1.66 per share for the quarter -- and the worst news of all is that it actually lost $3.52 per share.
Mixed earnings indeed! So why do investors seem so universally in favor of SolarEdge stock after such a report?
Source Fool.com
