Wolfspeed, Inc. (WOLF)
Bronstein, Gewirtz & Grossman, LLC is investigating potential claims on behalf of purchasers of Wolfspeed, Inc. (“Wolfspeed” or “the Company”) (NYSE: WOLF). Investors who purchased Wolfspeed securities are encouraged to obtain additional information and assist the investigation.
The investigation concerns whether Wolfspeed has violated federal securities laws.
Investigation Details:
On August 16, 2023, Wolfspeed issued a press release reporting its financial results for the fourth quarter and full fiscal year 2023. Providing a weaker-than-expected business outlook for 2024, Wolfspeed said that it expects sales to fall within a range of $220 million to $240 million and that it expects to lose between $0.60 and $0.75 per share, significantly more than analyst expectations of a loss of $0.20 per share. On this news, Wolfspeed’s stock price fell $9.07 per share, or 17.06%, to close at $44.10 per share on August 17, 2023.
Then, on May 1, 2024, Wolfspeed issued a press release announcing its financial results for the first quarter of 2024. Among other items, Wolfspeed reported revenue of $200.7 million, missing analyst estimates of $201.09 million. On this news, Wolfspeed’s stock price fell $2.55 per share, or 9.77%, to close a $23.56 per share on May 2, 2024.
What’s Next?
If you are aware of any facts relating to this investigation or purchased Wolfspeed securities, you can assist this investigation. You can also contact Peretz Bronstein or his client relations manager, Nathan Miller, of Bronstein, Gewirtz & Grossman, LLC: 332-239-2660.
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We represent investors in class actions on a contingency fee basis. That means we will ask the court to reimburse us for out-of-pocket expenses and attorneys’ fees, usually a percentage of the total recovery, only if we are successful.
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Contact:
Bronstein, Gewirtz & Grossman, LLC
Peretz Bronstein or Nathan Miller,