WOLF - Wolfspeed Stock Tanks Again -- It Might Be Time to Move On If You Bought the SiC Hype
2023-08-24 06:12:00 ET
Shares of next-gen semiconductor manufacturer Wolfspeed (NYSE: WOLF) are headed back toward multiyear lows after an ugly quarterly earnings update, one that apparently took many investors by surprise.
But it isn't a surprise that Wolfspeed has been one of the more aggressive companies trying to expand into silicon carbide (SiC) chips and has been building several new chip fabs -- an endeavor that costs a great deal of money. With some of those (what should have been) expected costs now coming to bear, some investors are selling.
Is it time to move on from this stock?
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Wolfspeed Stock Tanks Again -- It Might Be Time to Move On If You Bought the SiC Hype