As years go by, 2024 has not been a great one for shares of SolarEdge Technologies Inc (NASDAQ: SEDG). The $800 million market cap stock is down 85% since the start of January, which means it’s back trading at 2016 levels. For any investor that was involved in SolarEdge in the 8 years since then, it’s been a rollercoaster of a ride, to say the least.
At one point during the mania of the pandemic-fuelled tech bubble, the stock was up almost 2,500%. But like so many of the hot stocks that came to characterize the market’s frothiness at that time, there was little substance behind it all. Hence, the eye-watering plunge since then.
