Wolfspeed Shares Plunge on Disappointing Revenue Outlook

Semiconductor manufacturer Wolfspeed jolted investors with a sobering financial forecast, triggering a sharp decline in its share price. Despite reporting better-than-anticipated quarterly results following its recent bankruptcy exit, the company’s guidance for the upcoming quarter sent its stock tumbling 10.8% in after-hours trading.

The primary catalyst for the sell-off was Wolfspeed’s second-quarter revenue projection, which fell substantially short of market expectations. The company anticipates revenue between $150 million and $190 million, a figure that lands well below the analyst consensus estimate of approximately $202.7 million. This significant forecast miss has raised serious concerns about the firm’s near-term growth trajectory.

Having formally emerged from Chapter 11 bankruptcy protection on September 29, Wolfspeed Read more...