Why SunPower's Shares Jumped 11.8% in September and Are Still Going
Shares of SunPower (NASDAQ: SPWR) jumped 11.8% in September, according to data provided by S&P Global Market Intelligence, after giving guidance for the full year to investors. The momentum continued with shares rising another 24.8% in the first six days of October.
The real news was management releasing 2020 guidance for SunPower after the Maxeon Solar Technologies spinoff. It expects fourth-quarter revenue of $330 million to $370 million, GAAP net income of zero to $10 million, and adjusted EBITDA of $20 million to $30 million. For the full year, revenue is expected to be $1.06 billion to $1.10 billion, GAAP net come will be $30 million to $40 million, and adjusted EBITDA will be $20 million to $30 million.
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Source Fool.com
