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

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.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

MarketWatch /  🏆 3. in SG

Singapore Singapore Latest News, Singapore Singapore Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Tesla stock options priced for smaller than usual move after earningsTomi Kilgore is MarketWatch's deputy investing and corporate news editor and is based in New York. You can follow him on Twitter TomiKilgore.
Read more »

Netflix stock soars toward biggest gain in nearly 3 years, would add more than $21 billion to market capTomi Kilgore is MarketWatch's deputy investing and corporate news editor and is based in New York. You can follow him on Twitter TomiKilgore.
Read more »