Why Wolfspeed Stock Was a Winner This Week
Next-generation chipmaker (NYSE: WOLF), a volatile stock even in the best of times, was having one of its better weeks on the exchange as August barreled to a close. Data compiled by S&P Global Market Intelligence showed that the shares were up by over 6% week to date as of midafternoon Thursday. Investors were cheered by news of an asset divestment.
Wolfspeed specializes in silicon carbide (SiC) semiconductors, which can function in more-extreme conditions than the more silicon-based chips common these days. Manufacturing is a challenging business, though, and this company has had its struggles.
Investors traded out of its stock last week after the company released a disappointing set of fourth-quarter and full-year earnings for fiscal 2023.
Source Fool.com
