SolarEdge Drops After Taking $1 Billion Writedown on Inventory.

SolarEdge Technologies Inc. saw a 16% drop in its stock value after taking a $1 billion writedown and warning of non-existent or negative margins for the current quarter. The company's third-quarter sales and profit fell below analysts' expectations, with current-quarter revenue also expected to be lower than anticipated. SolarEdge is facing challenges in the rooftop solar market due to high interest rates, leading to high inventory levels and a decline in value of assets. The company's short-term plan involves selling off inventory at low prices, but its long-term profitability remains uncertain. [Extracted from the article]