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SunPower Corp. experienced a significant drop in stock value, plunging 22% to $1.65, after announcing plans to restate its financial results for 2022 and 2023 due to misstatements involving sales commissions. This restatement, disclosed in a recent regulatory filing, has raised concerns about the company's financial health and reporting accuracy. Market participants noted that some investors had been shorting the stock since it was priced at $5.
SunPower $SPWR discloses plans to restate some earnings https://t.co/26bNR9ZRli https://t.co/f9hCbn3dCU
Solar company Sunpower flags issues with financial reporting https://t.co/JDNEQERcr1
⚠️ SOLAR COMPANY SUNPOWER FLAGS ISSUES WITH FINANCIAL REPORTING Full Story → https://t.co/SHYfNMmF8m SunPower has identified misstatements in its results for fiscal year 2022, the U.S. solar power storage and energy service provider said in a regulatory filing on Tuesday. https://t.co/LJCc8HFETj
