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Why SunPower Stock Dropped 11.8% Today

TheMotleyFool

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Shares of solar energy stock SunPower (NASDAQ: SPWR) fell as much as 11.8% in trading on Wednesday after reporting second-quarter 2021 financial results. At 3:20 p.m. EDT, shares were down still 9.1% and don't look like they'll get much of a bounce today.

SunPower's revenue was up 41.9% in the quarter to $308.9 million, and net income from continuing operations jumped from $55.9 million to $75.2 million, or $0.40 per share. That number includes an $84 million mark-to-market gain on equity investments, so if you pull that and other one-time items out, earnings were just $0.06 per share.

Image source: Getty Images.

Source Fool.com

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