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The revenue miss and future decline in expectations create negative sentiment. Historical instances show similar patterns lead to stock price drops.
What happened, with direct paths to the underlying reporting
Wolfspeed reported a loss of 55 cents per share, beating estimates. Quarterly revenue of $196.8 million missed Street estimates of $198.5 million. CEO highlights organizational resilience and focus on product innovation. Projected revenue decline to $150 million - $190 million for next quarter. WOLF stock fell 13.10% to $27.80 in after-hours trading.
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