SunPower Corporation Aktie News

SunPower (NASDAQ: SPWR ) layoffs have the have the solar technology and energy services company cutting 1,000 jobs to reduce operating costs. SunPower notes that these layoffs will result in charges of about $28 million.

Solar company SunPower said on Wednesday it plans to reduce its workforce and shut down certain business segments as part of a restructuring plan to help lower costs.

SunPower has identified misstatements in its results for fiscal year 2022, the U.S. solar power storage and energy service provider said in a regulatory filing on Tuesday.

Last week, I recommended “5 Stocks to Buy as Interest Rates Begin to Fall.” Declining borrowing costs looked set to turn these loss-making firms profitable again – a historically bullish sign for stocks.

Susquehanna International cut its price target on SunPower stock to $3 on Friday. The new price target implies SunPower stock will rise this year, but the company's sales and earnings are expected to get worse.

Investors looking at stocks with the highest short interest in April tend to target two possible plays: ride the short-selling wave in hopes the stock is further suppressed or hang onto the hope of a short squeeze sending shares soaring. While short squeezes happen, they're uncommon and rarely gather the momentum to hit absurd highs that many expect.

A top Biden administration official said she'll go to bat for U.S. green energy companies. This includes solar, which has struggled with profitability.

Short-sellers have lost a fortune this year as American equities have continued soaring. The Nasdaq 100 and S&P 500 indices have surged to a record high and analysts expect that this trend may continue this year.