Why SolarEdge Technologies Stock Skyrocketed 46% in May
Shares of SolarEdge Technologies (NASDAQ: SEDG) rocketed 46% in May, according to data provided by S&P Global Market Intelligence. Powering the surge in the solar stock was the continued improvement in its financial results. The company also launched an innovative solution to help customers reduce emissions and costs.
SolarEdge has battled a barrage of headwinds in recent years that have significantly impacted its growth and financial results. It has taken several steps over the past couple of quarters to turn things around. For example, it closed its energy storage division last November. The company also hired Shuki Nir as its new CEO in December. He initially came aboard last June as the chief marketing officer.
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Source Fool.com
