From CNBC:

SolarEdge’s stock tumbled after announcing weak guidance for the first quarter. Revenues expected to be $175-215 million, much lower than the expected $406 million. Quarterly earnings show a net loss of $162.4 million and revenues of $316 million, down 65% from the same period in 2022. CEO Zvi Lando blames high interest rates and depressed demand for struggles. Company is cutting 16% of its workforce, closing manufacturing sites, and exiting certain businesses to reduce costs.



Read more: SolarEdge tumbles on weak first-quarter guidance