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SunPower Board Welcomes Marc-Antoine Pignon as New Director

SunPower (SPWR) has shared an announcement. Vincent Stoquart stepped down from SunPower Corporation's board on July 17, 2024, and was replaced by M...

SunPower stock plummets 73% in a week to trade below a dollar as the residential solar company pauses operations

SunPower Corporation founder Tom Dinwoodie at the company's office in Richmond, California in March 2010.REUTERS/Kim WhiteSunPower shares fell 73% this week as the company said it would halt some...

SunPower Corporation shares plunged nearly 48% on Friday after a report, which cited dealers, indicated the firm will discontinue supporting new leases, installations and product shipments. Analysts, too, are reportedly of the opinion that the company is likely to be out of business soon, with Guggenheim Securities cutting the price target on the stock to zero and predicting that the stock may be delisted soon.Following the report, retail investor sentiment touched a one-year low, dipping into extremely bearish territory (7/100) supported by high chatter.<figure class="image"><img style="aspect-ratio:789/224;" src="https://st-everywhere-cms-prod.s3.us-east-1.amazonaws.com/Screenshot_2024_07_19_at_12_59_19_PM_ead2d7bd30.png" alt="Retail sentiment dips into extremely bearish territory for SunPower Corporation" width="789" height="224"><figcaption>Retail sentiment dips into extremely bearish territory for SunPower Corporation</figcaption></figure>Guggenheim analyst Joseph Osha reportedly wrote in a research note that the firm is entering a wind-down process that will likely end in the sale of its remaining assets and the delisting of its equity. There is also indication that the firm might be looking for alternative providers to transfer its sold projects, according to a CNBC report.The firm did try working on its financials and cutting down costs, but has struggled to regain its footing. In April this year, the firm stated that it is moving to a low fixed-cost model that could better flex when the market is up or down. It said it is winding down its SunPower Residential Installation (SPRI) locations and closing SunPower Direct sales. Apart from these measures, SunPower also said it will be reducing its workforce by approximately 1,000 people to better align the business with its new focus.Last month, the company said it has drawn upon a $50 million second tranche of the $175 million second lien term loan from Sol Holding. Sol Holding, which is owned jointly by affiliates of TotalEnergies SE and Global Infrastructure Partners, is the majority owner of SunPower's common stock. SunPower agreed to issue warrants to Sol Holding to purchase up to approximately 33.40 million shares of common stock at an exercise price of $0.01 per share.Despite these steps, it seems the firm has not been able to complete its intended comeback. For now, investors on Stocktwits are debating the merit of these analyst predictions and chiming in with their own, overwhelmingly bearish commentary. Meanwhile, some traders believe a short-term bounce could be in order due to the shares’ swift drop.<figure class="image"><a href="https://stocktwits.com/AnnKan/message/580064226"><img style="aspect-ratio:783/200;" src="https://st-everywhere-cms-prod.s3.us-east-1.amazonaws.com/Screenshot_2024_07_19_at_1_00_39_PM_9e1d4b6c7e.png" alt="Stocktwits user AnnKan's post on SunPower Corporation" width="783" height="200"></a><figcaption>Stocktwits user AnnKan's post on SunPower Corporation</figcaption></figure> &nbsp;

Analysts Believe SunPower Corporation Stock Could Go To Zero: Retail Investors Don’t Doubt It

Guggenheim analyst Joseph Osha reportedly wrote in a research note that the firm is entering a wind-down process that will likely end in the sale of its remaining assets and the delisting of its equity. 

Equity

Guggenheim analyst Joseph Osha reportedly wrote in a research note that the firm is entering a wind-down process that will likely end in the sale of its remaining assets and the delisting of its equity. The Stocktwits sentiment for the stock is in “extremely bearish” territory.

SunPower (NASDAQ:SPWR) Catastrophe Continues, Guggenheim Declares Company Has No Value

It is a dark day when an analyst says that your company's equity no longer has any value. And that's just what happened to SunPower ($SPWR), the so...

Here Are The Markets Moving Higher As Trump's Election Odds Rise

Here Are The Markets Moving Higher As Trump's Election Odds Rise

 "I'm not supposed to be here, I'm supposed to be dead," former President Trump told the New York Post on Sunday while...

SunPower (NASDAQ:SPWR) Tanks 23% after Auditor Quits

Shares of solar company SunPower (NASDAQ:SPWR) tanked by more than 23% at the time of writing after the firm's auditor quit, according to Bloomberg...

What's Going On With SunPower Stock?

SunPower Corporation shares are trading higher Friday amid another surge in meme stocks in anticipation of a livestream scheduled on Roaring Kitty's YouTube channel.
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Solar Stocks Heated Up On Wednesday: Here's Why

Several solar stocks including First Solar, Inc. (NASDAQ: FSLR), Sunrun Inc. (NASDAQ: RUN), SolarEdge Technologies, Inc. (NASDAQ: SEDG) and SunPower Corporation (NASDAQ: SPWR), rallied significantly...

SunPower Announces $50 Million Draw on Previously Announced Second Lien Term Loan to Further Business Operations as Company Executes Business Plan

SunPower Announces $50 Million Draw on Previously Announced Second Lien Term Loan to Further Business Operations as Company Executes Business Plan SunPower Announces $50 Million Draw on Previously...

SunPower Adds Tesla Powerwall 3 to its Portfolio

SunPower Adds Tesla Powerwall 3 to its Portfolio SunPower Adds Tesla Powerwall 3 to its Portfolio PR Newswire RICHMOND, Calif., May 22, 2024 With storage attach-rates soaring, SunPower adds...

SunPower Corp. engages in the design, manufacture, and delivery of solar panels and systems. The company provides fully integrated solar, storage, and home energy solutions. The company was founded by Thomas L. Dinwoodie, Robert Lorenzini and Richard M. Swanson in April 1985 and is headquartered in Richmond, CA.

Volume	15.2M
52-Wk High	$10.30
52-Wk Low	$0.5022

SPWR Sunpower Corp

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