SunPower stock collapses below $1 as company halts leases, installations and shipments
Publishing timestamp: 2024-07-19 15:38:52
Summary
SunPower's stock has plummeted 70% this week and nearly 93% in the last 12 months after announcing it will no longer support new leases, installations, or product shipments. Analysts believe this marks the end of SunPower as an operating business, with the company likely entering a winddown process and selling off its remaining assets. The residential solar sector has been under pressure due to high interest rates and political uncertainty in the U.S.
Sentiment: NEGATIVE
Keywords: investment strategy, jpmorgan chase & co, climate, breaking news: markets, sunnova energy international inc, alternative and sustainable energy, markets, business news, breaking news: investing, sunpower corp, energy,