On May 20, Wolfspeed fell 8.18% in regular trading, trading at $54.745/share, with trading volume of approximately $147 million.

The decline was primarily driven by concentrated profit-taking following a sharp multi-session rally. The stock surged 23.47% on May 13 and gained over 11% on May 18, accumulating significant short-term gains that prompted holders to lock in profits. Notably, the broader semiconductor sector remained firm, with Intel up 7.89%, Advanced Micro Devices up 6.47%, and Marvell Technology up 8.33%, indicating no systemic sector selling pressure and confirming this as an individual stock correction.

The prior rally was fueled by multiple catalysts including AI data center business growth of approximately 30% quarter-over-quarter, completion of debt restructuring, Citigroup increasing its stake by roughly 1.0119 million shares to 6.77%, and a bullish Citrini Research report highlighting the company's strategic AI positioning. However, the latest quarterly results showed revenue of $150.2 million with a net loss of $119.9 million, and weak forward guidance continues to limit fundamental support for the stock price.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)