SolarEdge Technologies (NASDAQ:SEDG) stock cratered this week after the company released preliminary third-quarter 2023 financial results. Not only is revenue expected to be below expectations, but the company is also likely to lose money in the quarter.
In this video, Travis Hoium covers the dynamics plaguing SolarEdge and why there isn't going to be a recovery anytime soon. Higher interest rates and installer pressure could fundamentally change SolarEdge's profit profile long term.
*Stock prices used were end-of-day prices of Oct. 18, 2023. The video was published on Oct. 20, 2023.
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Travis Hoium has positions in SunPower. The Motley Fool has positions in and recommends Enphase Energy. The Motley Fool recommends SolarEdge Technologies. The Motley Fool has a disclosure policy. Travis Hoium is an affiliate of The Motley Fool and may be compensated for promoting its services. If you choose to subscribe through their link, they will earn some extra money that supports their channel. Their opinions remain their own and are unaffected by The Motley Fool.
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