SunPower stock collapses to nearly $1 as company halts leases, installations and shipments
SunPower(SPWR) CNBC·2024-07-19 20:23
Workers install solar panels during a SunPower installation on a home in Napa, California, US, on Monday, July 17, 2023.SunPower stock collapsed more than 40% this week after the company informed dealers that it will no longer support new leases, installations or product shipments, with analysts largely writing the company off as on the verge of going out of business.The residential solar installer told dealers that it recognizes "the gravity" of the decision and is looking for alternative providers to tran ...