"SolarEdge Stock Plummets on Abrupt Demand Slowdown and Inventory Backlog"
Originally Published 1 year ago — by Yahoo Finance
SolarEdge stock plummeted 14% after the company reported weaker-than-expected revenue guidance for the current quarter, citing a slowdown in residential demand and increasing inventories. The company expects first quarter revenue to be between $175 million and $215 million, significantly lower than Wall Street expectations of $373.2 million. CEO Zvi Lando attributed the challenges to market dynamics and inventory levels, with weakness noted in Europe and the US residential market. SolarEdge anticipates gradual improvement in installation rates in Europe and expects the US commercial segment to continue growing.