From Yahoo Finance: 2025-03-28 11:21:00

Wolfspeed stock plummeted 49.5% without clear reason. CEO Robert Feurle, a chip industry veteran, was appointed to replace interim Chairman Thomas Werner. The transition isn’t abrupt and planned for May 1. Feurle aims to enhance financial performance and cash flow, but faces challenges with the company’s $6.6 billion debt.

Investors may not be upset about the new CEO, maybe it’s the stock. The Motley Fool recommends “Double Down” stock picks for potential growth. Past picks like Nvidia, Apple, and Netflix saw significant returns. Three new companies are receiving alerts. Stock Advisor returns as of March 24, 2025.

Rich Smith has no position in the stocks mentioned. The Motley Fool has positions in and recommends Wolfspeed. The Motley Fool has a disclosure policy.

Read more: Why Wolfspeed Stock Imploded on Friday