The Law Offices of Frank R. Cruz Announces Investigation of Wolfspeed, Inc. (WOLF) on Behalf of Investors

    Date:

    The Law Offices of Frank R. Cruz announces an investigation of Wolfspeed, Inc. (“Wolfspeed” or the “Company”) WOLF on behalf of investors concerning the Company’s possible violations of federal securities laws.

    If you are a shareholder who suffered a loss, click here to participate.

    On November 6, 2024, Wolfspeed released its first quarter fiscal 2025 financial results and provided second quarter guidance significantly below expectations due to “demand … ramp[ing] more slowly than [the Company] originally anticipated” as “EV customers revise their launch time lines as the market works though this transition period.” Additionally, while the Company previously estimated that its Mohawk Valley fabrication facility would result in $100 million in revenue, it now projected a range 30% to 50% below that mark.

    On this news, Wolfspeed’s stock price fell $5.38, or 39.2%, to close at $8.33 per share on November 7, 2024, thereby injuring investors.

    Follow us for updates on Twitter: twitter.com/FRC_LAW.

    If you purchased Wolfspeed securities, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Frank R. Cruz, of The Law Offices of Frank R. Cruz, 2121 Avenue of the Stars, Suite 800, Century City, California 90067 at 310-914-5007, by email to info@frankcruzlaw.com, or visit our website at www.frankcruzlaw.com. If you inquire by email please include your mailing address, telephone number, and number of shares purchased.

    This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.

    Market News and Data brought to you by Benzinga APIs

    Go Source

    Chart

    SignUp For Breaking Alerts

    New Graphic

    We respect your email privacy

    Share post:

    Popular

    More like this
    Related