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Is Wolfspeed Stock a Buy?

TheMotleyFool

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(NYSE: WOLF), the chipmaker formerly known as Cree, lost more than 90% of its value over the past three years. It was a hot stock during the peak of the meme stock rally in late 2021, but its shares crumbled as its growth stalled out.

Does that pullback represent a buying opportunity for contrarian investors? Let's review its business model, near-term challenges, and valuations to decide.

Image source: Getty Images.

Source Fool.com