SunPower Corporation shares are trading higher Friday amid another surge in meme stocks in anticipation of a livestream scheduled on Roaring Kitty's YouTube channel.
Several solar stocks including First Solar, Inc. (NASDAQ: FSLR), Sunrun Inc. (NASDAQ: RUN), SolarEdge Technologies, Inc. (NASDAQ: SEDG) and SunPower Corporation (NASDAQ: SPWR), rallied significantly on Wednesday, potentially driven by reports of lawmakers advocating for an investigation into Chinese solar firms.
SunPower said it has drawn upon the $50 million second tranche of the $175 million second lien term loan from Sol Holding that it announced in February. Sol Holding is the majority owner of SunPower's common stock.
Shares of several solar companies, including Canadian Solar Inc. (NASDAQ: CSIQ), Enphase Energy, Inc. (NASDAQ: ENPH), First Solar, Inc. (NASDAQ: FSLR), and SolarEdge Technologies, Inc. (NASDAQ: SEDG), are trading higher Wednesday afternoon, possibly in response to President Joe Biden's recent announcement of increased tariffs on Chinese imports, which included a significant hike on solar cells.