Summary by Moomoo AI
SunPower Corporation, a leading solar energy company, has received a notice from The Nasdaq Stock Market LLC on March 20, 2024, indicating non-compliance with Nasdaq Listing Rule 5250(c)(1) due to the delayed filing of its Annual Report on Form 10-K for the fiscal year ended December 31, 2023. The company had previously disclosed its inability to file the report by the prescribed due date, citing the time and effort required to complete restatements for prior periods. Despite the notice, there is no immediate impact on the trading of SunPower's common stock on Nasdaq. SunPower must submit a compliance plan within 60 days and may be granted an extension until September 11, 2024, to regain compliance. The company is working to finalize the Form 10-K and intends to file as soon as practicable. On March 21, 2024, SunPower issued a press release regarding the receipt of the Nasdaq notice.
