SPWR - SunPower Halts Operations: What's Going On With The Stock? | Benzinga
SunPower Corporation (NASDAQ:SPWR) shares continue to drop Friday after the company told its customers it is halting shipments and solar installations.
The Details:
SunPower shares fell 40% Thursday after the company informed clients it is halting product shipments and deactivating lease and power purchase agreements. SunPower cited its efforts to address financial challenges as the reason for these pauses, according to Reuters.
JPMorgan Chase analysts said in a research note that they think the halt will be a permanent stoppage.
"We do not believe this is a temporary halt, but rather an indefinite suspension of SPWR's future dealings," wrote analysts led by Mark Strouse, according to a Bloomberg report.
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