Maxeon Solar Technologies shares are trading lower after the company withdrew its FY24 and Q3 guidance, citing in a shareholder letter unprecedented uncertainty and expectations that revenue will decline significantly.
Portfolio Pulse from Benzinga Newsdesk
Maxeon Solar Technologies shares fell after the company withdrew its FY24 and Q3 guidance, citing unprecedented uncertainty and expected significant revenue decline.
September 03, 2024 | 1:33 pm
News sentiment analysis
Sort by:
Descending
NEGATIVE IMPACT
Maxeon Solar Technologies withdrew its FY24 and Q3 guidance due to unprecedented uncertainty and expects a significant revenue decline, leading to a drop in share prices.
The withdrawal of guidance and expectation of significant revenue decline are strong negative signals for investors, likely causing a decrease in stock price. The company's acknowledgment of unprecedented uncertainty adds to the negative sentiment.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100