Why Wolfspeed Plunged This Week [Yahoo! Finance]
Wolfspeed, Inc. (WOLF)
Company Research
Source: Yahoo! Finance
EDT Thursday, according to data from S&P Global Market Intelligence Wolfspeed has had a tough year, down 80.3% in 2024. So, this week's slide was pretty much a continuation of the negative trends affecting it all year. On top of that, a Wall Street analyst downgraded shares Thursday, adding insult to injury. Mizuho grows even more pessimistic Wolfspeed has been spending a tremendous amount of money in order to become a vertically integrated producer of silicon carbide (SiC) chips. Of note, silicon carbide is somewhat difficult to work with and produce in volumes, but when it works, it conducts higher voltages and is more efficient while operating at lower temperatures than traditional silicon. As such, SiC has been touted as the future for electric vehicles (EVs) and electric infrastructure. But while Wolfspeed is spending a lot of money, it's not making a lot of money. Last quarter, Wolfspeed's revenue was only flat, with an operating loss of $145.9 million. Moreover, managem
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WOLF
News
- The Schall Law Firm Encourages Investor Participation In An Inquiry Into Wolfspeed, Inc. For Possible Securities Fraud Accesswire
- Wolfspeed Inc Is Being Investigated For Violating Securities Laws And Affected Shareholders Are Urged To Reach Out To The Schall Law Firm Accesswire
- Wolfspeed dips after Mizuho cuts rating on silicon carbide pricing, supply headwinds [Seeking Alpha]Seeking Alpha
- Wolfspeed shares drop after Mizuho downgrade to sell [Yahoo! Finance]Yahoo! Finance
- Wolfspeed, Inc. (NYSE: WOLF) was downgraded by analysts at Mizuho from a "neutral" rating to an "underperform" rating. They now have a $8.00 price target on the stock, down previously from $17.00.MarketBeat
WOLF
Earnings
- 8/21/24 - Beat
WOLF
Sec Filings
- 8/26/24 - Form 4
- 8/26/24 - Form 4
- 8/22/24 - Form 10-K
- WOLF's page on the SEC website