Wolfspeed Shares Plunge on Bleak Financial Forecast

Wolfspeed investors faced a severe market setback as the company’s disappointing outlook triggered a dramatic selloff. The semiconductor firm’s latest quarterly results were completely overshadowed by a guidance that fell substantially below market expectations.

The financial markets delivered a harsh verdict on Wolfspeed’s projections. During Thursday’s session on October 31, the stock experienced a massive gap down at market open. Shares plummeted from their previous close of $31.99 to open at just $25.94, representing a nearly 19% single-day collapse. This violent price movement underscores investor anxiety about the company’s immediate challenges, particularly given its recent emergence from bankruptcy protection.

Concerning Guidance Details

The primary driver behind Read more...