"SolarEdge Stock Plunges 14% on 60% Sales Drop and Weak Q1 Guidance"

SolarEdge Technologies Inc. saw its stock plummet over 11% after reporting a more than 60% drop in quarterly sales and issuing lower sales guidance, reflecting the challenges facing the solar industry. The company attributed the decline to lower demand, high interest rates, and regulatory changes in California, and announced a cost-cutting plan and layoffs in response. SolarEdge swung to a surprise loss in the fourth quarter, with revenue dropping 65% to $316 million. The company's guidance for first-quarter revenues and gross margins fell significantly below analyst estimates, leading to concerns about continued margin pressures.