1747 ET - Maxeon Solar Technologies seems to have given up on its Asian supply chain after the U.S. Customs & Borders Protection denied its protests on the detained shipments of Maxeon 3, Maxeon 6 and Performance 6 solar panels. The shipments remained in customs since July, under the Biden administration. President Trump's latest round of tariffs seem to have triggered the decision to close deals with domestic vendors in the U.S. Maxeon's supply chain restructuring would be costly for the company, which has already lost 99% of its market value over the past 12 months and most recently disclosed a cash position of $51.2 million as of Sept. 29 from $190.2 million as of Dec. 31, 2023. Shares rise 3.3% to $2.89 in post-market trading. (sabela.ojea@wsj.com; @sabelaojeaguix)
(END) Dow Jones Newswires
April 04, 2025 17:47 ET (21:47 GMT)
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