Why SunPower Stock Climbed 8% Higher This Week
We might be in the depths of winter, but investors have been feeling warm and fuzzy about (NASDAQ: SPWR) stock these past few trading days. Data compiled by S&P Global Market Intelligence reveal the solar company's share price glowed more than 8% brighter over the course of this week. SunPower's latest financing news was a major reason for the uptick.
At the end of November, SunPower announced a delay in delivering its latest set of quarterly financials to the Securities and Exchange Commission (SEC). This constituted a breach of a loan covenant with one of the solar power company's subsidiaries; as per agreements the subsidiary had signed, this was to force an "immediate acceleration" of a chunk of its debt.
After market hours last Friday, SunPower disclosed that it had entered into a new amendment to the loan and security agreement it signed with its creditor. Under the terms of this amendment, SunPower's subsidiary will receive a temporary waiver until Jan. 19, 2024, of that default and any other defaults that might arise from the delay.
Source Fool.com
Sunpower Corp. Stock
Currently there is a rather negative sentiment for Sunpower Corp. with 9 Buy predictions and 13 Sell predictions..
On the other hand, the target price of 7 € is above the current price of 2.0 € for Sunpower Corp., so the potential is actually 250.28%.
