Why Shares of SolarEdge Plunged 34% in March
One of the best-performing renewable energy companies of 2019, SolarEdge Technologies (NASDAQ: SEDG) continued to burn brightly in 2020, rising 31% through the first two months of the new year. The stock's climb, however, came to an end in March, when shares tumbled 34%, according to data from S&P Global Market Intelligence.
SolarEdge didn't report any specific news that motivated investors to sell; however, the general concerns regarding the COVID-19 outbreak which led to the S&P 500 plunging 12.5%, the spread of the pandemic in Italy, an analyst's reference to the stock, and concerns regarding the COVID-19 stimulus package all contributed to the stock's decline.
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Source Fool.com
