Why Wolfspeed Stock Plummeted 25.8% Today
2025-05-09 16:11:45 ET
Shares of Wolfspeed (NYSE: WOLF) are crashing on Friday. The chipmaker 's stock plunged 25.8% as of 3:32 p.m. ET and was down as much as 29.3% earlier in the day. The steep decline comes as the S&P 500 (SNPINDEX: ^GSPC) and Nasdaq Composite (NASDAQINDEX: ^IXIC) were pretty much flat.
The company reported somewhat positive third-quarter results, but issued a 2026 revenue forecast that fell well short of Wall Street's expectations.
Wolfspeed reported Q3 2025 revenue of $185.4 million, slightly missing the estimated $185.9 million. The company did manage to beat Wall Street's target for earnings, however, reporting a net loss of $0.72 per share when a loss of $0.82 per share was expected.
NASDAQ: WOLF
WOLF Trading
-6.43% G/L:
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$62.80 Open:
