Why Wolfspeed Plummeted 47% in March
Shares of silicon carbide chipmaker (NYSE: WOLF) plunged 47.1% in March, according to data from S&P Global Market Intelligence.
Wolfspeed is in a tough spot in an already-adverse environment. The company has spent billions of dollars building up domestic silicon carbide plants in the U.S., and taking on significant debt to do so.
But not only have its key automotive and industrial end markets fallen into a big downturn, but the current tariff uncertainty threatens to harm auto demand even further. That's not a great recipe, and several company-specific events in March added to the risks surrounding the company.
Source Fool.com
