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SolarEdge Shares Dive 23% on Lower Expected 3Q Revenue, 4Q Outlook

SolarEdge Technologies shares dropped 23.67% to $87 in premarket trading on Friday after preliminary third quarter revenue came in below prior guidance, with further pressure on revenue expected in the fourth quarter.The smart energy technology company said it experienced substantial unexpected cancellations and pushouts of existing backlog from its European distributors during the second part of the third quarter. It attributed the cancellations and pushouts to higher-than-expected inventory in
SolarEdge Shares Dive 23% on Lower Expected 3Q Revenue, 4Q Outlook

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