Reported 6 months ago
Shares of SunPower (NASDAQ: SPWR) surged on Friday, rising 9.1% by midday, contributing to a 13% weekly increase. The spike is attributed to a report from the Solar Energy Industries Association (SEIA) announcing the second-best quarter for the American solar industry in Q1 2024, with 11.8 gigawatts of solar power added. However, while the utility-scale solar power segment saw growth, SunPower, focusing on residential solar installations, faced a 25% decline. As a result, despite analyst expectations of future profitability, caution is advised before investing in SunPower.
Source: YAHOO