SolarEdge (SEDG) Notches Record High Ahead of Tax Credit Deadline

SolarEdge Technologies Inc. (NASDAQ:SEDG) is one of the 10 Stocks With Jaw-Dropping 14-74% Gains.

SolarEdge Technologies rallied to a new two-year high on Tuesday, as investors continued to load up portfolios amid a short-term boost expected to come from the upcoming deadline for solar tax incentives.

During the session, shares of SolarEdge Technologies Inc. (NASDAQ:SEDG) climbed to a record high of $75.73 before trimming gains to end the session just up by 14.21 percent at $70.75 apiece.

For illustration purposes only. Photo by Adrinil Dennis on Pexels

The company rallied alongside its counterparts, namely First Solar and Enphase Energy, among others, as investors expected a pickup in second-quarter performance for solar players given the July 4 deadline for businesses to qualify for a 30-percent federal tax incentive.

Under the new rules of the One Big Beautiful Bill Act, commercial and utility-scale solar projects must begin construction on or before July 4 to remain eligible for a 30-percent investment tax credit, providing a short-term boost to key solar players, including SolarEdge Technologies Inc. (NASDAQ:SEDG), on the expectation that customers would scramble to get their solar projects done to remain qualified for the incentives.

In other news, SolarEdge Technologies Inc. (NASDAQ:SEDG) is set to welcome Maoz Sigron as its new chief finance officer effective Sunday, May 31. He will replace Asaf Alperovitz, who is stepping down to pursue another professional opportunity outside of the industry.

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