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SunPower filed for bankruptcy, citing high interest rates and misconduct allegations. Stock fell 32% to 55 cents, down nearly 90% this year. TotalEnergies is the largest stakeholder; asset sales underway for $45 million. Residential solar sector struggles with high interest rates and excess inventory. SEC subpoenaed for revenue recognition documents from 2023 quarterly reports.
- SunPower filed for bankruptcy, citing high interest rates and misconduct allegations.
- Stock fell 32% to 55 cents, down nearly 90% this year.
- TotalEnergies is the largest stakeholder; asset sales underway for $45 million.
- Residential solar sector struggles with high interest rates and excess inventory.
- SEC subpoenaed for revenue recognition documents from 2023 quarterly reports.
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