SMA Solar drops pre-market after slashing 2024 outlook again
14/11/2024 06:56
** Shares of SMA Solar S92G.DE drop 19.3% in pre-market
trade after the German solar power parts supplier lowered its
outlook for the second time in last five months, posted
weaker-than-expected 9-month results
** The company said it now expects lowered group revenue in
the range of 1.45 billion euros to 1.5 billion euros for the
full year
** "SMA fights to stay alive as China competition is
brutal," a local trader says
** This should persist today and also longer term, as bad
news never end, it adds
** The stock is at the bottom of the small-caps index
.SDAXI
(Reporting by Anastasiia Kozlova)
((Anastasiia.Kozlova@thomsonreuters.com))