Shares of Wolfspeed (NYSE: WOLF) experienced a significant drop, plummeting 25.8% by 3:32 p.m. ET, with an earlier decline of 29.3%, despite the S&P 500 and Nasdaq Composite remaining stable. The chipmaker’s third-quarter results were slightly positive, reporting $185.4 million in revenue, though it missed the $185.9 million estimate; it did beat earnings expectations with a net loss of $0.72 per share against a forecasted loss of $0.82. The sharp decline was triggered by a 2026 revenue forecast that fell significantly short of Wall Street’s projections.
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