Where Will Wolfspeed Be in 1 Year?
Can Wolfspeed (NYSE: WOLF) get back from the edge of a financial cliff, or is this company a lost cause and its stock a falling knife? Let's see what Wolfspeed might do over the next year.
I used to own a few Wolfspeed shares. The alternative semiconductor stock entered my portfolio under the old Cree name in April 2020. I had been following the maker of LED lighting and silicon carbide chips for years, and the stock looked like a steal in the darkest days of the COVID-19 pandemic.
Two and a half years later, I started to wonder why I was holding on to Wolfspeed's stock. The post-pandemic rebound looked complete, and I wasn't excited about the company's growth prospects anymore. So I closed that position at a 156% gain -- well ahead of the S 500's (SNPINDEX: ^GSPC) 42% rise over the same period.
Source Fool.com
