Why Wolfspeed Plunged This Week

Shares of the EV chipmaker fell amid market turmoil and a Wall Street downgrade. Shares of silicon carbide producer Wolfspeed (WOLF -7.16%) fell hard this week, down 16.7% through 3:13 p.m. 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 grow ...