Why SunPower Corporation Stock Just Popped 9%
Shares of solar power stock SunPower (NASDAQ: SPWR) are up a strong 9% in afternoon trading here at the 2:40 p.m. minute mark, EDT, after the company announced a planned partnership between its Maxeon Solar Technologies subsidiary and solar power microinverter manufacturer Enphase Energy (NASDAQ: ENPH).
In today's announcement, SunPower said that Maxeon -- its solar panel manufacturing subsidiary that will be spun off later this quarter --will partner with Enphase to develop a new Enphase Energized Maxeon AC Module.
SunPower's "Maxeon" will soon have a new solar module to offer residential customers. Image source: Getty Images.
Source Fool.com
