The Board wishes to inform shareholders of the Company (“Shareholders”) that it is unaware of any changes in policy, regulation or business performance that could have caused the volatility of the Company’s share price. The Company remains fully operational and dedicated to executing the GI growth strategy, which the Board believes has the potential to improve Shareholders’ value in the long term.
as per Sunpower's annoucement, the shares of two executives were transferred out from a certain account. Speculation is that they PROBABLY used for shorting in the past few weeks. If so, we should see short-covering. The stock is looking to gap up this morning based on market depth information.
Sunpower has won multiple contracts in October and the fall in share prices does not justify its commitment to expansion. The recent 3Q result is in line with analyst expectations as 4Q typically contributes 50% or more to the yearly earnings.
Walter, I think Sunpower's earnings will accelerate as more projects come online, so I guess 4Q this year will be another strong y-o-y growth. Interestingly, the chairman won an excellent award -- the EY Entrepreneur award in China (in the Technology Category).
Suddenly, out of the blue, Sunpower calls for a Special General Meeting on Dec 28 for share buyback mandate! Shortists quake in fear, quickly buy back shares, pushing the stock up 15.8% today to 33 cents. Will not be surprised to see it recover the 40-cent level by year-end.