SolarMax Technology: Struggling Due To NEM 3.0 And Cash Is Running Low

Nikada Introduction I've been looking at companies that completed IPOs in 2024 and this is how renewable energy firm SolarMax Technology (NASDAQ:SMXT) popped on my radar screen. The latter raised $18 million in February, and its market capitalization doubled on the first day. However, the market valuation of SolarMax Technology eventually dropped to just$130.5 million as of the time of writing. Looking at the latest available financials, I doubt that the stock is likely to be trading near the $4.00 IPO pri ...