SunPower Shares Crash Nearly 40% On Work Stoppage

SunPower Corp. has suspended new solar installations and halted shipments, causing its stock to plunge by nearly 40% in afternoon trading. The solar company informed dealers that starting September 17, it will not support new leases, power purchase agreements (PPA) sales, or new project installations. This decision, outlined in a letter included in a research note from Roth MKM, signals severe operational challenges for SunPower. Analysts and market observers reacted sharply to the announcement. Pol Lezcano, an analyst with BloombergNEF, remarked,…