Wolfspeed Gets Price Target Cut. The Chipmaker’s Stock Plunges. - Barron's
1. Wolfspeed's shares dropped 20% following a Citi downgrade. 2. Debt concerns overshadowed earnings that met expectations. 3. Company faces challenges securing CHIPS Act funding amid political hurdles. 4. Wolfspeed introduced a new CEO and cut management by 30%. 5. Targets adjusted: Citi to $3, Piper Sandler to $6.