Maxeon Solar shares surge 50.09% intraday after clearing debt covenants for SunPower Malaysia sale.

Maxeon Solar Technologies surged 50.09% during intraday trading following the announcement that its Cayman Islands subsidiary entered into a share sale and purchase agreement for its Malaysian manufacturing subsidiary. The company also amended multiple note indentures to facilitate the sale, enabling automatic lien release on Malaysia assets. These developments signal progress in restructuring operations and improving liquidity, which likely spurred investor optimism. While separate reports highlighted ongoing patent challenges and financial struggles, the immediate price action aligns with the positive catalyst of the asset disposition and debt covenant adjustments.