突传利空！刚刚，暴跌超66%！

Core Viewpoint - Wolfspeed, a leading American chip manufacturer, is preparing to file for bankruptcy due to significant debt issues, leading to a drastic drop in its stock price by over 66% [1][3][4]. Group 1: Financial Performance and Market Position - Wolfspeed's projected revenue for the fiscal year 2026 is $850 million, which is below analysts' expectations of $958.7 million [5]. - The company has faced a decline in demand from the industrial and automotive markets, exacerbated by economic uncertainties and tariff policies [4]. - The stock price has plummeted by over 90% since its peak during the pandemic [10]. Group 2: Management and Strategic Decisions - Analysts attribute the company's operational issues to missteps in capital allocation, execution, and strategy by the management team [1][10]. - The company has undergone significant leadership changes, including the dismissal of its CEO and plans to lay off 30% of its senior leadership team [6][10]. - JanaPartners, a prominent investor, has completely exited its position in Wolfspeed, selling nearly 5 million shares in the first quarter of this year [6]. Group 3: Industry Context and Future Outlook - Wolfspeed was once a leader in the silicon carbide market, particularly in the electric vehicle sector, which accounts for over 60% of silicon carbide demand [7][10]. - The anticipated growth in the electric vehicle market has not materialized as expected, leading to delays in semiconductor orders from automotive manufacturers [10]. - The company is seeking Chapter 11 bankruptcy protection to renegotiate its debts, which is expected to gain support from most creditors [4].