From Yahoo Finance: 2025-05-09 10:41:00

Chipmaker Wolfspeed’s shares dropped 23% after raising concerns about its future and predicting lower revenue due to slowing electric vehicle demand. Rivals in China are gaining ground with cheaper materials, while customers like General Motors and Mercedes-Benz are impacted by tariffs. The company may need to renegotiate debt and faces bankruptcy fears. Wolfspeed’s shares have fallen 33% this year, with a potential $150 million market value loss. The company expects $600 million in tax refunds but the fate of chip manufacturing subsidies is uncertain due to changing legislation.



Read more at Yahoo Finance: Wolfspeed shares sink on going-concern fears, slowing EV sales hit annual revenue forecast