Sunedison Inc Shares Keep Falling Amid Reports Investors Win Restraining Order
Sunedison Inc (NYSE: SUNE) shares are flirting with the $2 area two days after SolarCity Corp (NASDAQ: SCTY) issued a disappointing outlook. The stock is down 14 percent on Thursday, on the back of further solar weakness instilled by Barclays' downgrade of SolarCity and Sunrun Inc (NASDAQ: RUN) before the market open.
Though the Barclays report didn't specifically mention Sunedison, it did warn that a slowdown in installations, rising funding costs and a potential CPP delay may slow investor bullishness in the space.
Nearing a bottom on Thursday, Dow Jones reported just before 2:30pm that Sunedison investors have won a restraining order against the company. The order prevents usual moves of company assets temporarily, the outlet reported.
Sunedison did not immediately respond to a request for comment.
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