Why SunPower Corporation's Shares Plunged 19.1% Today
Shares of SunPower (NASDAQ: SPWR) plunged as much as 19.1% on Thursday following the company's fourth-quarter 2019 report. Shares are still down 18.4% at 3:30 p.m. EST, so there's not any recovery happening in the stock. This comes just one day after shares jumped 10.6%, so the stock is now going backward over the last two trading sessions.
Fourth-quarter revenue of $603.8 million was up 32.2% from a year ago but fell shy of the $627.7 million that analysts were expecting. Adjusted earnings of $0.23 per share were a penny short of expectations.
Image source: SunPower.
Source Fool.com
