Is Wolfspeed Stock Headed Toward $0 Again?
2026-05-09 16:57:00 ET
While shares of Wolfspeed (NYSE: WOLF) skyrocketed following its fiscal third-quarter earnings report, the company still faces serious issues. The question is: Could the company be headed toward bankruptcy again?
Remarkably, Wolfspeed shares are up nearly 170% this year, as of this writing. The company emerged from bankruptcy last fall with reduced debt and a new management team. However, the operational issues the company has faced have not yet been fixed.
Two of Wolfspeed's biggest issues before bankruptcy were negative gross margins and operating cash flow , and those issues have not gone away. For fiscal Q3, Wolfspeed recorded a gross margin of -27%, while its adjusted gross margin was -21%. That means it is selling its silicon carbide components for less than it costs to make them.
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