Why SunPower Stock Jumped 19.9% in August
Shares of SunPower (NASDAQ: SPWR) jumped 19.9% in August, according to data provided by S&P Global Market Intelligence, after the company spun off its manufacturing business. Shares have been volatile early in September but are now nearly flat for the month.
Late in the month, SunPower's spinoff of Maxeon Solar Technologies was completed. The deal will send SunPower's international manufacturing operations to Maxeon, which will get a $298 million infusion of cash from its partner TZS. What remains at SunPower is the company's U.S. operations, including residential and commercial businesses and a small manufacturing plant in Oregon.
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Source Fool.com
