Title: On the valleys of the stochastic heat equation Abstract: We consider a generalization of the parabolic Anderson model driven by space-time white noise, also called the stochastic heat equation, on the real line. High peaks of solutions have been extensively studied under the name of intermittency, but less is known about spatial regions between peaks, which may loosely refer to as valleys. We present information about the size of valleys and the supremum of the solution over a valley. More precisely, we show that the supremum of the solution over a valley vanishes as $t\to\infty$, and we establish an upper bound of $\exp\{-\text{const}\cdot t^{1/3}\}$ for the rate of decay. We demonstrate also that the length of a valley grows at least as $\exp\{+\text{const}\cdot t^{1/3}\}$ as $t\to\infty$. This is based on joint work with Carl Mueller (Rochester) and Kunwoo Kim (POSTECH).