Wolfspeed Shares Plunge Amid Bleak Financial Outlook

Wolfspeed shares continued their precipitous decline on Friday, closing at $17.95 after shedding another 3.75% of their value. The semiconductor specialist faces mounting investor concerns following disappointing guidance for the upcoming quarter that has severely damaged market confidence.

The company’s recent financial projections reveal deeper operational issues. Management anticipates second-quarter revenue to fall between $150 million and $190 million, representing a significant drop from the previous quarter. This downturn stems from multiple factors: some clients made advance purchases last quarter to stockpile inventory ahead of a planned factory shutdown, while other customers secured alternative suppliers during Wolfspeed’s recent bankruptcy proceedings.

The company’s manufacturing facilities in Mohawk Valley and Siler City Read more...