Stock Track | Wolfspeed Plummets 45% to 27-Year Low Amid CEO Change and High Short Interest

Stock Track
03/28

Wolfspeed Inc. (WOLF) shares plummeted 45.03% in pre-market trading on Friday, hitting their lowest level since 1998. The sharp decline comes a day after the chipmaker announced a leadership change, appointing chip industry veteran Robert Feurle as its new CEO effective May 1.

The stock's dramatic fall can be attributed to several factors. Firstly, the unexpected CEO change has raised concerns among investors about the company's future direction. This comes just months after Wolfspeed ousted its previous top boss, Gregg Lowe, without cause in November. Secondly, the company has been facing ongoing challenges, with its stock already down 19.2% year-to-date before this latest plunge.

Adding to the downward pressure is the high short interest in Wolfspeed's stock. According to Ortex estimates as of March 27, about 32.5% of WOLF's free float is in short position, indicating significant bearish sentiment among traders. The combination of these factors has led to a perfect storm for Wolfspeed's stock, resulting in a loss of nearly half its value in a single trading session and extending its losses to approximately 40% for the month of March alone.

免責聲明:投資有風險,本文並非投資建議,以上內容不應被視為任何金融產品的購買或出售要約、建議或邀請,作者或其他用戶的任何相關討論、評論或帖子也不應被視為此類內容。本文僅供一般參考,不考慮您的個人投資目標、財務狀況或需求。TTM對信息的準確性和完整性不承擔任何責任或保證,投資者應自行研究並在投資前尋求專業建議。

熱議股票

  1. 1
     
     
     
     
  2. 2
     
     
     
     
  3. 3
     
     
     
     
  4. 4
     
     
     
     
  5. 5
     
     
     
     
  6. 6
     
     
     
     
  7. 7
     
     
     
     
  8. 8
     
     
     
     
  9. 9
     
     
     
     
  10. 10