Solar Maker Maxeon Pulls Guidance on ‘Significant’ Barriers
- Customs is blocking Maxeon panel shipments into US market
- Solar company planning 1-for-100 reverse share split
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Maxeon Solar Technologies Ltd. plunged after the solar-panel producer warned that “significant” market headwinds including a weak rooftop market, project delays and detained imports into the US will drag down sales.
The company said US Customs and Border Protection has been blocking imports from its Mexico factories since July, according to a statement Tuesday. Maxeon isn’t providing sales guidance and is planning a 1-for-100 reverse share split.