SunPower Halts Operations: What's Going On With The Stock?
Portfolio Pulse from Erica Kollmann
SunPower Corporation (NASDAQ:SPWR) has halted shipments and solar installations due to financial challenges, leading to a significant drop in its stock price. Analysts from JPMorgan Chase and GLJ Research have expressed pessimistic views, with the latter downgrading the stock to a Sell and slashing the price target to $0. SunPower's stock has lost 91.37% year to date and is currently in oversold conditions with an RSI of 24.54.

July 19, 2024 | 2:09 pm
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SunPower Corporation has halted shipments and solar installations due to financial challenges, leading to a 40% drop in its stock price. Analysts from JPMorgan Chase and GLJ Research have expressed pessimistic views, with the latter downgrading the stock to a Sell and slashing the price target to $0.
The halt in operations and the severe financial challenges faced by SunPower have led to a significant drop in its stock price. Analysts' pessimistic views and downgrades further exacerbate the negative sentiment, making a short-term decline in the stock price highly likely.
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