SunPower Halts Installations, Stock Drops by 40%

SunPower Corp. faces significant challenges, suspending solar installations and shipments, leading to a stock plummet of nearly 40%. The company's decision to halt new leases and installations, effective September 17, signals operational difficulties and financial struggles. Analysts express concerns about the indefinite suspension of SunPower's operations, exacerbated by leadership changes, financial restatements, and a slump in California installations. SunPower's troubles include SEC subpoenas, auditor resignations, and a restructuring plan to cut costs, impacting investor confidence. Competitors like Sunnova and Sunrun might benefit from SunPower's setbacks, with GLJ Research lowering SunPower's price target and questioning investor support.