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Why Wolfspeed Stock Is Plummeting Today

TheMotleyFool

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Why Wolfspeed Stock Is Plummeting TodayPhoto, wide shot, wide-angle lens, Consumer electronics manufacturer, Blue hour, twilight, cool, ISO1200, slow shutter speed, photo by Hiroshi Sugimoto: https://img.theapi.app/temp/d8a4268f-c982-4aa8-a09e-f9ee1db62f57.png

(NYSE: WOLF) stock is falling rapidly in Friday's trading. The company's share price was down 10.4% as of 2:15 p.m. ET despite the S 500 being up 0.3% and the Nasdaq Composite being up 0.4%.

Wolfspeed's valuation is contracting today in conjunction with meme stock trading. Despite today's share price slide, the stock is still up roughly 68% over the last month of trading.

Image source: Getty Images.

Source Fool.com