In a disappointing turn of events, HDFC Bank shares took a hit, dropping 4% after the company reported muted growth in the June quarter. Investors were left unimpressed by the lackluster performance, leading to a sell-off in the stock. The banking giant will need to focus on strategies to regain market confidence and improve its financial outlook.
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Why Wolfspeed Plunged Today
Shares of Wolfspeed (NYSE: WOLF), a silicon carbide chip manufacturer, saw a significant drop of 34.4% following the announcement of its plans to file for Chapter 11 bankruptcy to restructure its substantial debt. This decision follows earlier funding challenges due to the government not providing an anticipated CHIPS Act subsidy, though it seems equity holders may still retain some value in the company. Explain It To Me Like I'm 5: Wolfspeed, a company that makes...
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