Why SolarEdge's Shares Plunged 17.9% on Monday
Shares of SolarEdge Technologies (NASDAQ: SEDG) plunged as much as 17.9% in trading on Monday, as the entire market had one of its worst days ever. At the close of trading, shares were down 16.3%.
There's no question that the overall drop in the market was the main cause of SolarEdge's fall. But solar companies are being affected by macro trading trends as well. Oil fell 25% today, and the fortunes of the solar industry are often perceived to be tied to oil. Higher oil prices make people think about buying an electric vehicle or putting solar panels on their home, and the opposite is what we saw today.
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Source Fool.com
