7:37 PM · 18 December 2023

SunPower shares lose 35% amid liquidity concerns

Shares of U.S. company SunPower (SPWR.US) are losing nearly 35% in today's session following the release of a delayed 10-Q report. Among other things, the company revealed that it is concerned about the corporation's liquidity situation and has doubts about its ability to continue its core operations.

The company communicated that its violation of a key condition of its loan agreement could prompt lenders to withdraw some loans. If the company fails to reach an agreement with its creditors in the release of nearly $65.3 million in debt, there will not be enough funds for day-to-day operations.

Source: xStation

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