Why SunPower Corporation (NASDAQ:SPWR) Declined Over 9%?


In the last trading session, the stock price of SunPower Corporation (NASDAQ:SPWR) declined more than 9% to close the day at $7.08. The decline came at a share volume of 7.17 million compared to average share volume of 3.25 million. There was no apparent news supporting this decline.

The buzz

Last month, SunPower reported that its solar carport offerings are being identified as one of BuildingGreen’s major ten recommended products for 2018. BuildingGreen is a trusted source among builders for more than 30 years. It has long identified green building offerings that help transform the market by conserving water and energy, lowering emissions, and enhancing the environmental impact of physical structures.

Brent Ehrlich, the Products and materials specialist at BuildingGreen, expressed that their yearly top 10 Green Building offerings list exhibits the most thrilling new innovations and leading breakthroughs in environmental and health performance across all key building product divisions. They chose SunPower’s carport offerings so that they can take benefit of underutilized areas, and for their multi-functional organizational designs that can deploy graywater and EV charging. The company’s solar panels are Cradle to Cradle Certified™ Silver as well as can sum toward LEED credits.

Drawing on years of experience, SunPower has engineered and designed a suite of commercial solar carport offerings that efficiently use available space like the tops of parking garages and ground-level parking lots. SunPower® X-Series or E-Series direct prevailing solar panels can be fixed to the top of the carports, producing clean electricity and offering shade to automobiles underneath.

These solar panels generate 45% more energy in the same segment over 25 years when assessed to conventional panels, leading up to 35% of the credits needed for the LEED certification. They are the first solar panels to get Cradle to Cradle Certified™ Silver status which showcases a product’s quality depending on five categories: material reutilization, material health, water stewardship, social fairness and renewable energy use.