Nasdaq moves to delist Maxeon following low stock prices

September 23, 2024
Facebook
Twitter
LinkedIn
Reddit
Email
Maxeon’s stock price fell under US$0.10 for ten consecutive days last week. Image: Maxeon.

The Nasdaq Stock Market has moved to delist solar module supplier Maxeon from its global select market after the company’s securities had a closing bid price under US$0.10 for ten consecutive trading days.

Nasdaq sent Maxeon a letter announcing the decision last Tuesday (17 September), and on Friday, the company submitted a hearing request through the Nasdaq Listing Center. The start of this appeals process has suspended the company’s potential delisting until the hearing process is complete. According to the listing centre, these hearings typically take place within 15 calendar days of the hearing request, which means that Nasdaq will learn of its fate by Saturday 5 October.

This article requires Premium SubscriptionBasic (FREE) Subscription

Try Premium for just $1

  • Full premium access for the first month at only $1
  • Converts to an annual rate after 30 days unless cancelled
  • Cancel anytime during the trial period

Premium Benefits

  • Expert industry analysis and interviews
  • Digital access to PV Tech Power journal
  • Exclusive event discounts

Or get the full Premium subscription right away

Or continue reading this article for free

As of today (23 September), Maxeon’s stock price hit US$0.092, a 98.65% decline from the start of the year. A company can also face delisting from the market if its share price remains lower than US$1 for 30 consecutive trading days, and Maxeon’s stock price has not cleared US$1 since 27 June, showing that the company has endured stock price challenges for some months now.

The news follows a number of discouraging developments for the company, including failing to promptly supply its 2023 financial results to Nasdaq earlier this year. In its delayed results, the company announced it has lost US$14.9 million in the first quarter of this year.

In response to these challenges, Maxeon plans to complete a reverse stock split, which would combine the company’s shares into a smaller number of shares to increase their value. In August, Maxeon shareholders approved a resolution to consolidate every 100 shares in the company into one ordinary share each, which the company expects to push the share price over US$1.

The company has also been embroiled in a number of legal controversies, some stemming from its financial performance. The Pomerantz law firm has brought a class action lawsuit against the company regarding the potential of its leaders engaging in “unlawful business practices”, and a Dutch court has thrown out a lawsuit filed by the company, which alleged that Aiko Solar had infringed on one of its cell patents.

At this year’s Intersolar Europe event, held over the summer in Germany, Maxeon CEO Bill Mulligan addressed some of these issues, telling PV Tech Premium that “it’s cheating when you copy other people’s technology”.

25 November 2025
Warsaw, Poland
Large Scale Solar Central and Eastern Europe continues to be the place to leverage a network that has been made over more than 10 years, to build critical partnerships to develop solar projects throughout the region.

Read Next

Premium
October 17, 2025
According to Ronak Maheshwari of CRC-IB, there has been a struggle for US renewable power projects to secure necessary equity .
October 17, 2025
A group of over 20 US states are suing the Trump administration for the cancellation of the US$7 billion Solar For All Scheme.
October 16, 2025
Jakson Green and Blueleaf Energy have reached financial close for the 840MWp Bikaner solar projects in Rajasthan, western India. 
October 15, 2025
The average price of a solar PPA signed in North America increased 4% between the second and third quarters of 2025, according to LevelTen.
October 13, 2025
US solar manufacturer T1 Energy has acquired a minority stake in fellow US-based solar cell producer Talon PV.
October 9, 2025
Solar PV is the world’s cheapest technology to generate electricity, according to a study from the University of Surrey, in the UK.

Subscribe to Newsletter

Upcoming Events

Solar Media Events
October 21, 2025
New York, USA
Solar Media Events
November 25, 2025
Warsaw, Poland
Solar Media Events
December 2, 2025
Málaga, Spain
Solar Media Events
February 3, 2026
London, UK