2024-05-01 10:12:00 ET
A seemingly never-ending storm has hovered over SunPower (NASDAQ: SPWR) , which is at a record low with shares down more than 85% in the past year and 55% so far in 2024.
The latest setback came earlier this month as the residential solar services specialist disclosed it found errors in its financial statements going back to 2022, and that they need to be restated. This follows what has already been a difficult period for the company dealing with weak sales and widening losses in a tough industry environment.
Considering the financial challenges and ongoing uncertainties facing SunPower, this is a stock investors should avoid.
For further details see:
SunPower Stock Is Down 55% This Year. Is It a Buy?