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SolarEdge’s stock plunges toward worst-ever one-day performance, set to wipe out $1.8 billion in market cap

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Tomi Kilgore is MarketWatch's deputy investing and corporate news editor and is based in New York. You can follow him on Twitter @TomiKilgore.

Shares of SolarEdge Technologies Inc.

plummeted 28.3% in premarket trading Friday, after the solar power equipment maker cut its earnings outlook. That put the stock on track to suffer the biggest one-day selloff since going public in March 2015, breaking the previous record of a 22.9% drop on Nov. 3, 2020. The stock was also set to open at the lowest price seen during regular-sessions hours since April 6, 2020. The stock’s implied price drop ahead of the open would wipe out about $1.82 billion in market capitalization.

 

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