Law Offices of Howard G. Smith announces an investigation on behalf of Wolfspeed, Inc. (“Wolfspeed” or the “Company”) (NYSE: WOLF) investors concerning the Company’s possible violations of federal securities laws.
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.
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 Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847 or by email to howardsmith@howardsmithlaw.com, or visit our website at www.howardsmithlaw.com.
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