Chipmaker Wolfspeed's shares plunge over 45% to 27-year low

Quick Summary:

Wolfspeed's shares slumped about 48 per cent on Friday, hitting their lowest since 1998, a day after the chipmaker appointed a new CEO amid its struggles to improve its financial position.

Meanwhile, Wolfspeed is also waiting on about $750 million in federal funding under the U.S.

Wolfspeed has been grappling with a slowdown in demand from automotive customers, which has crimped its profitability.

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Article Details

Category: EconomyBusiness

Markets: SingaporeUnited States

Topics: Position Chips Wolfspeed Grant Carbide Wolfspeed’s Shares Cent Silicon 2022 Chip

Source Website Secure: Yes (HTTPS)

News Sentiment: Positive

Fact Checked: Legitimate

Article Type: News Report

Published On: 2025-03-28 @ 23:01:09 (2 days ago)

News Timezone: GMT +8:00

News Source URL: channelnewsasia.com

Language: English

Article Length: 393 words

Reading Time: 3 minutes read

Sentences: 18 lines

Sentence Length: 22 words per sentence (average)

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Copyright Owner: © Channel News Asia

News ID: 27385892

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