SunEdison is plummeting in after-hours trading
Shares in solar energy company SunEdison are down 11% in after hours trading, as a rumor that sent the stock upwards during the day was denied.
The stock gained 7% during Wednesday's trading session on a rumor that Blackstone planned to invest in the company, which has seen its stock fall 83% since the start of the year.
After the close Blackstone denied that it was looking to purchase a stake in SunEdison.
Yahoo Finance
SunEdison's stock fell 24% the day before as the market continued to express investors' fear that the company would not have enough cash to cover its obligations to two yieldcos that it owns. Yieldcos are separate companies SunEdison created to own and operate its specific energy projects - and their financing arrangements are complicated.
More importantly, they're expensive, and the company is holding a lot of debt. Already SunEdison has had to pay $152 million towards a margin loan for one of its yieldcos, TerraForm.
- US buys 81 Soviet-era combat aircraft from Russia's ally costing on average less than $20,000 each, report says
- 2 states where home prices are falling because there are too many houses and not enough buyers
- A couple accidentally shipped their cat in an Amazon return package. It arrived safely 6 days later, hundreds of miles away.
- Include 4 hrs of physical activity, 8 hrs sleep in routine for optimal health, suggests study
- 11 must-visit tourist places in Nainital in 2024
- Indegene's ₹1,842 crore IPO to open on May 6
- BSE shares tank nearly 19% after Sebi directive on regulatory fee
- Nainital bucket list: 9 experiences you can't miss in 2024
- JNK India IPO allotment date
- JioCinema New Plans
- Realme Narzo 70 Launched
- Apple Let Loose event
- Elon Musk Apology
- RIL cash flows
- Charlie Munger
- Feedbank IPO allotment
- Tata IPO allotment
- Most generous retirement plans
- Broadcom lays off
- Cibil Score vs Cibil Report
- Birla and Bajaj in top Richest
- Nestle Sept 2023 report
- India Equity Market