SunPower Corporation Common Stock

SPWR

Market cap $21.5M

SunPower (NASDAQ: SPWR ) stock is falling on Tuesday after the solar power company notified investors of a delisting notice from the Nasdaq Exchange. Shares of SPWR stock are facing delisting due to the company's bankruptcy filing last week.

RICHMOND, Calif. , Aug. 12, 2024 /PRNewswire/ -- SunPower Corp. (the "Company" or "SunPower"), a leading residential solar technology and energy services provider, today announced that the Company received a notice from the Nasdaq Stock Market LLC ("Nasdaq") that it has determined to delist the Company's common stock on Nasdaq.

Difficult-to-short stocks are likely to lag the market. Few investors are aware of this tendency, much less act on it, because they instead focus on finding stocks that can outperform the market.

OVERLAND PARK, KS / ACCESSWIRE / August 8, 2024 / Tortoise Capital today announced that SunPower Corp (NASDAQ:SPWR) will be removed from the Tortoise Decarbonization Infrastructure IndexSM (DCRBN) as a result of its announced bankruptcy and asset purchase agreement with Complete Solaria, Inc. SPWR will be removed from the index when the market opens on Aug. 9, 2024. Special rebalancing is not required for DCRBN.

The solar installer filed for bankruptcy on Monday as the sector battles rising inventory levels and overall weakness in the solar market.

SunPower has filed for Chapter 11 bankruptcy and plans to sell its assets. The rooftop solar installer has faced allegations of misconduct in its reporting practices.

SunPower Corp.'s SPWR, -36.30% stock fell 37% to 50 cents a share on Tuesday after the solar power company filed for protection from its creditors under Chapter 11 of the U.S. bankruptcy code. SunPower also inked an asset sale agreement for $45 million in cash to buyer Complete Solaria Inc. CSLR, +12.51%.

SunPower (NASDAQ: SPWR ) stock is falling hard on Tuesday after the solar power and technology company filed for Chapter 11 bankruptcy late yesterday. That bankruptcy filing isn't an attempt for the company to restructure its business and come out leaner.

Files voluntary Chapter 11 petitions to effectuate the proposed transaction Intends to operate Blue Raven Solar and New Homes through the Chapter 11 process Pursues value-maximizing sale transactions for remaining assets RICHMOND, Calif. , Aug. 5, 2024 /PRNewswire/ -- SunPower Corp. (NASDAQ:SPWR), (the "Company" or "SunPower"), a leading residential solar technology and energy services provider, today announced it has entered into an asset purchase agreement (the "APA") with Complete Solaria, Inc. (NASDAQ:CSLR) ("Complete Solaria") to serve as the Stalking Horse Buyer for the assets associated with SunPower's Blue Raven Solar business, New Homes business, and non-installing Dealer network (the "Assets").

Nasdaq is one of the world's most active stock exchanges. The exchange takes pride in only allowing companies that meet its stringent requirements, including an aggregate earning of $11 million over the last three years and no net loss.