Why Renewable Energy Stocks Plunged in June
June wasn't kind to the renewable energy industry as investors wavered on how risky some of the smaller companies in the industry could be. Fisker's bankruptcy in the electric-vehicle (EV) industry meant that other renewable energy companies could eventually go down, too.
According to data provided by S&P Global Market Intelligence, SunPower's (NASDAQ: SPWR) shares dropped 11.4% in June and continued their slide in July, falling 29.7% in the first week of trading. Blink Charging (NASDAQ: BLNK) fell 11.9% last month, and Bloom Energy (NYSE: BE) was down 25%.
2024 has been nothing but bad news for SunPower. The company needed a bailout by its majority owner TotalEnergies and said it will need to restate two years of financials.
Source Fool.com
Sunpower Corp. Stock
€0.59
-5.930%
Our community is currently low on Sunpower Corp. with 8 Buy predictions and 18 Sell predictions.
However, we have a potential of 1086.24% for Sunpower Corp. as the target price of 7 € is above the current price of 0.59 €.
